Part (d) earnings per share:
As mentioned earlier, this part (and (e)) was often not answered at all. Of those that did answer it, many gained most, if not all, of the marks. Most of the errors related to an incorrect profit figure or using the incorrect amounts for share capital pre- and post- the rights issue, but, provided candidates were consistent with the use of the figures that they had calculated in parts (a) and part (b) for these figures, they were given the appropriate marks.

Most of the marks lost on this section were mainly due to the incorrect calculation of the theoretical ex-rights value of the shares (or inverting the diluting effect of this calculation).