Neco 2018 Financial Accounting Question 49

A private limited company reports the following (all figures in \(\text{₦}\) thousands) for the year ended 31 December 2022:\n\n- Share capital (ordinary shares, \(\text{₦}1\) each): 500\n- Retained earnings, 1 Jan 2022: 120\n- Revaluation surplus, 1 Jan 2022: 30\n- Net profit for the year: 80\n- Dividends paid: 45\n- Revaluation gain on property during the year: 20 (added to revaluation surplus)\n- Depreciation expense on plant and equipment: 25 (charged to profit and loss)\n- Plant and equipment cost: 200, accumulated depreciation 1 Jan 2022: 80\n- Property, plant and equipment at cost: 300, accumulated depreciation 1 Jan 2022: 100\n- Intangible assets (goodwill) at cost: 50, accumulated amortisation 1 Jan 2022: 20\n- Goodwill is to be amortised straight‑line over 5 years with no residual value.\n\nPrepare the statement of financial position (extract) showing total equity at year‑end and compute earnings per share (EPS) based on the ordinary shares. Assume no other changes.