Kauta Ltd issued and fully paid share capital on 1St January 2016 comprised: 1 000 7% preference shares of N$100 each 100 000 40 000 ordinary shares of N$100 each 4 000 000 4 100 000 On 1St October 2016, Kauta Ltd declared a 1-for-4 rights issue of ordinary shares at N$140 per share. The market price of the ordinary shares was N$ 240 per share. Net profit after tax for the year ended 31St December 2016 was N$ 911 000. Earnings per share for the year 2015 were N$ 30.52. Required a) Calculate earnings per share for the year ended 31St December 2016 (20 marks) b) Adjust earnings per share for 2015