QUESTION 4 Illustration 4 ABC Company wants to calculate diluted EPS for the year 2017-18. The weighted average number of ordinary shares are 5,00,000 as on 31.03.2018. Company has provided following details about the potential ordinary shares. 1. On 1 April 2013 company has issued convertible preference shares for a period of 10 years. The face value of the share is $ 10 each and total value of preference share capital is $ 75,00,000 2. On 1 January 2015 company has issued convertible debentures having a face value of $ 10 each for a period of 3 years. The total value of debenture issue is $ 90,00,000. After completion of third year the debentures will be converted into equity shares. 3. Company issued convertible preference shares 15th November 2017, for a period of 5 years, having a face value of $ 10 and issue value of $ 60,00,000 Calculate the weighted average number of potential shares.