For the year ended December 31, 2021, Norstar Industries reported net income of $910,000. At January 1, 2021, the company had 740,000 common shares outstanding. The following changes in the number of shares occurred during 2021:   Apr.   30   Sold 30,000 shares in a public offering. May   24   Declared and distributed a 5% stock dividend. June   1   Issued 24,000 shares as part of the consideration for the purchase of assets from a subsidiary.   Required: Compute Norstar's earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Round "EPS" answer to 2 decimal places. Do not round intermediate calculations.)       Numerator / Denominator = Earnings per Share   /   =

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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For the year ended December 31, 2021, Norstar Industries reported net income of $910,000. At January 1, 2021, the company had 740,000 common shares outstanding. The following changes in the number of shares occurred during 2021:
 

Apr.   30   Sold 30,000 shares in a public offering.
May   24   Declared and distributed a 5% stock dividend.
June   1   Issued 24,000 shares as part of the consideration for the purchase of assets from a subsidiary.

 
Required:

Compute Norstar's earnings per share for the year ended December 31, 2021. (Enter your answers in thousands. Round "EPS" answer to 2 decimal places. Do not round intermediate calculations.)

 

 
 
Numerator / Denominator = Earnings per Share
  /   =  
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