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
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 24E
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![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc23ee739-9373-4ff1-9b65-1e44876ef0fd%2Fce8dac18-a454-41df-8643-671425d452d3%2Fcmfnmxe.jpeg&w=3840&q=75)
Transcribed Image Text: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
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