This is all I got............. no more information....

Record your answers in the Yellow Answer Booklet provided QUESTION 2: EPS AND REVENUE RECOGNITION Question 2 consists of two separate parts, Part 1 and Part 2. Both parts are compulsory Part 1 For the reporting period ended 30 June 2015, Delaney Ltd. reported the following: (i.) Profit after tax for the year of $1.2 million. (i) Delaney Ltd. commenced the year with 400,000 fully paid ordinary shares (ii.) The following issues were made during the year: . Delaney Ltd. issued 80,000 fully paid ordinary shares on 1 November 2014 at . The company purchased back 50,000 fully paid ordinary shares on 1 March . It issued 100,000 partly paid ordinary shares on 1 June 2015 at an issue price the prevailing market price 2015 at the prevailing market price of $2.00. The shares were partly paid to $1.00. The partly paid shares carry the right to participate in dividends in proportion to the amount paid as a fraction of the issue price (iv.) For the entire year Delaney Limited had 500,000 $1.00 preference shares, which provides dividends at a rate of 10 per cent per year. The dividend rights are cumulative Required: (a) Calculate the basic earnings per share for 2015 for Delaney Ltd. 10 marks) (b) Briefly explain the difference between INCOME and REVENUE. Part 2 (5 marks) Adams Ltd provides a bundled service offering to Bayleys Ltd. It charges Bayleys Lt $35,000 for initial connection to its network and two ongoing services-access to the network for 1 year and 'oncall trouble-shooting' advice for that year. Bayleys Ltd pays the $35,000 upfront, on 1 July 2015. Adams Ltd determines that, if it were to charge a separate fee for each service if sold separately, the fee would be Connection fee Access fee $5,000 $12,000 Troublesoting $23,000 The end of Adams Ltd reporting period is 30 June