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 / =
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 / =
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.)
|
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