For the year ended December 31, 2013, Norstar Industries reported net income of $655,000. At January 1,
Question:
For the year ended December 31, 2013, Norstar Industries reported net income of $655,000. At January 1, 2013, the company had 900,000 common shares outstanding. The following changes in the number of shares occurred during 2013:
Apr. 30 Sold 60,000 shares in a public offering.
May 24 Declared and distributed a 5% stock dividend.
June 1 Issued 72,000 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, 2013.
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Related Book For
Intermediate accounting
ISBN: 978-0077647094
7th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
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