For the year ended December 31, 2024, Norstar Industries reported net income of $990,000. At January 1, 2024, the compar 1,170,000 common shares outstanding. The following changes in the number of shares occurred during 2024: April 30 Sold 110,000 shares in a public offering May 24 Declared and distributed a 5% stock dividend June 1 Issued 126,000 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, 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in thousands (i.e., 10,00 be entered as 10). Round "Earnings per share" answer to 2 decimal places. Numerator + Denominator Earnings per Share
For the year ended December 31, 2024, Norstar Industries reported net income of $990,000. At January 1, 2024, the compar 1,170,000 common shares outstanding. The following changes in the number of shares occurred during 2024: April 30 Sold 110,000 shares in a public offering May 24 Declared and distributed a 5% stock dividend June 1 Issued 126,000 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, 2024. Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in thousands (i.e., 10,00 be entered as 10). Round "Earnings per share" answer to 2 decimal places. Numerator + Denominator Earnings per Share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:For the year ended December 31, 2024, Norstar Industries reported net income of $990,000. At January 1, 2024, the company had
1,170,000 common shares outstanding. The following changes in the number of shares occurred during 2024:
April 30 Sold 110,000 shares in a public offering
May 24 Declared and distributed a 5% stock dividend
June 1 Issued 126,000 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, 2024.
Note: Do not round intermediate calculations. Except for per share amounts, enter your answers in thousands (i.e., 10,000 should
be entered as 10). Round "Earnings per share" answer to 2 decimal places.
Numerator + Denominator
+
=
Earnings per Share
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