Question for the year ended december 31 2016 norstar, Ask an Expert

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Question: For the year ended December 31, 2016, Norstar Industries reported net income of $925,000. At January 1, 2016, the company had 800,000 common shares outstanding. The following changes in the number of shares occurred during 2016:

Apr. 30 Sold 45,000 shares in a public offering.

May 24 Declared and distributed a 5% stock dividend.

June 1 Issued 42,000 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, 2016. (Enter your answers in thousands.)

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M93075750

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