For the year ended December 31, 2021, Norstar Industries reported net income of $985,000. At January 1, 2021, the company had 1,150,000 common shares outstanding. The following changes in the number of shares occurred during 2021: Apr. 30 Sold 105,000 shares in a public offering. May 24 Declared and distributed a 5% stock dividend. Issued 120,000 shares as part of the consideration for the purchase of assets from a 1 June 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 $985,000. At January 1, 2021, the company had 1,150,000 common shares outstanding. The following changes in the number of shares occurred during 2021: Apr. 30 Sold 105,000 shares in a public offering. May 24 Declared and distributed a 5% stock dividend. Issued 120,000 shares as part of the consideration for the purchase of assets from a 1 June 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

Section: Chapter Questions

Problem 1Q

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The statement of changes in equity of Corinthian Corp. shows the following balances as of January 1, 2021: Ordinary share capital (P5 par, 250,000 shares authorized, 137,500 issued and outstanding) Share premium Unappropriated retained earnings Appropriated retained earnings Total equity The corporation had the following equity transactions for during 2021: Jan 15 Completed the building renovation for which 250,000 of retained earnings had been P 687,500 275,000 667,500 250000 P1.880.000 restricted. Paid the contractor P242,500, all of which is capitalized. Mar 3 Issued 50,000 additional ordinary shares for P8.00 per share. May 18 Declared a dividend of P1.50 per share to be paid on July 31, 2021, to shareholders of record on June 30, 2021. June 19 Approved additional building renovation to be funded internally. The estimated cost of the project is P200,000, and retained earnings are to be restricted for that amount. July 31 Paid the cash dividend. Dec 31 Declared a property dividend…
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On January 1, 2023, Sunland Corporation had 84,600 common shares outstanding. On April 1, the company issued an additional 28,200 shares. On July 1, the company repurchased and cancelled 43,200 common shares. On November 1, the company issued 53,400 new shares. Cash dividends of $56,000 were declared to non-cumulative preferred shareholders. Net income for the year was $856,230. Calculate the weighted average number of shares for 2023 and earnings per share (EPS). (Round earnings per share to 2 decimal places, e.g. 15.75.) Weighted average number of shares Earnings per share 6A 11 /share
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