uikpay Ltd is a fast-growing fintech payment company operating in the ASEAN region. The following information relates to Quikpay Ltd: Profit after tax for year ended 31 December 2020 2019 $8,160,000 $7,560,000 10,000,000 Number of 1 ordinary shares in issue at 1 January 10,000,000 Besides the ordinary shares above, for many years Quikpay Ltd has also had in issue 2.00 million 5% preference shares. On 1 April 2020, Quikpay Ltd issued an additional 400,000 ordinary shares at full market price. On 1 July 2020, Quikpay Ltd made a rights issue of two ordinary share for every five ordinary shares in issue at a price of 4.30 per share. The share issue was fully subscribed. At 30 June 2020, the market price of one share in Quikpay Ltd was 5.00. In addition, Quikpay Ltd has in issue 1,500,000 9% convertible debentures. These are convertible into 1 ordinary share for every 2.50 of debentures on 1 January 2025. The rate of corporation tax is 20%. Required (a) Calculate basic earnings per share for Quikpay Ltd for the year ended 31 December 2020. (9 marks) (b) Calculate fully diluted earnings per share for Quikpay Ltd for the year ended 31 December 2020. (4 marks)