Question: For the year ended December 3 1 , 2 0 2 4 , Norstar Industries reported net income of $ 9 3 0 , 0

For the year ended December 31,2024, Norstar Industries reported net income

For the year ended December 31,2024, Norstar Industries reported net income of $930,000. At January 1,2024, the company had 820,000 common shares outstanding. The following changes in the number of shares occurred during 2024:
April 30 Sold 50,000 shares in a public offering
May 24 Declared and distributed a 5% stock dividend
June 1 Issued 48,000 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.
\table[[Numerator Denominator,= Earnings per Share,,],[,=,,],[,,,]]
of $930,000. At January 1,2024, the company had 820,000 common shares outstanding.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

What was Oaktree's strategy for investing in CIT's publicly traded debt? Compute the return on investment for Oaktree if CIT files for bankruptcy now. (Historical recovery rates for senior secured...

Q:

Early in its fiscal year ending December 3 1 , 2 0 2 4 , San Antonio Outfitters finalized plans to expand operations. The first stage was completed on March 2 8 with the purchase of a tract of land...

Q:

Question 9 of 11 18 Current Attempt in Progress For the year ended December 31, 2021, Roger Farms Limited, a private company, reported net income of $400,520. The company declared dividends of...

Q:

Magic GMBA 3 Corporation ? ? Income Statements For the Years Ended December 3 1 , 2 0 2 0 and 2 0 1 9 2 0 2 0 2 0 1 9 $ $ Operating revenues - Note 1 1 , 0 4 6 , 4 0 0 9 7 2 , 0 0 0 Less: Cost of...

Q:

\ Psymon Company, Inc., sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31:...

Q:

For the year ended December 31, 2021, Sweetwater Farms Limited, a private company, reported net income of $303.620. The company declared dividends of $108,100 and paid $37,600 of these dividends...

Q:

Swifty Inc. had net income for the current year ending December 3 1 , 2 0 2 3 of $ 9 2 1 , 1 5 0 . During the entire year, there were 5 0 1 , 0 0 0 common shares outstanding. The company had two...

Q:

Calculate each of the following amounts pbo, planned assets, pension expense and net pension asset ( liability ) as of both December 3 1 , 2 0 2 4 , and December 3 1 , 2 0 2 5 :Stanley - Morgan...

Q:

The adjusted trial balance for Olsen Company is below. Use the information to prepare in proper format a multi-step income statement for the year ended December 3 1 , 2 0CY . Sales $ 5 8 0 , 0 0 0 ;...

Q:

iu corps transactions for the year ended dec 3 1 2 0 2 1 included the folloqing: borrowed 1 . 5 0 0 0 0 0 from ma bank resulting in a note pauable to purchase realestate received dividends of 4 0 0 0...

Q:

The comparative balance sheet of Hirayama Industries Inc. for December 3 1 , 2 0 Y 2 and 2 0 Y 1 , is as follows: 1 Dec. 3 1 , 2 0 Y 2 Dec . 3 1 , 2 0 Y 1 2 Assets 3 Cash $ 4 8 6 . 0 0 $ 1 5 8 . 0 0...

Q:

(a) Although it is technically a corporation, the S corporation has the attributes of which business organization when considering the taxation factor? (b) What is the implication of this treatment...

Q:

In Exercise you investigated the federal rate on 3-month Treasury bills between 1950 and 1980. The scatterplot below shows that the trend changed dramatically after 1980, so weve built a new...

Q:

Find the general antiderivative o f f ( x ) = 1 x 1 + l n x 2 2 . 1 + l n x 2 2 + C 1 2 1 + l n x 2 2 + C ( 1 + l n x 2 ) - 2 + C 1 2 ( 1 + l n x 2 ) 2 + C None o f these

Q:

A solid shaft of 250 mm diameter has the same cross-section area as the hollow shaft of the same material with the inside diameter of 200 mm. find a. The ratio of power transmitted by the two shafts...

Q:

Ductility and hardness are opposite to each other. Justify the statement.

Q:

During torsion of shafts, the shear intensity is at the axis and at the surface. (fill in the blanks)

Q:

The length of arc AB of a circle with center at O is equal to twice the length of the radiusrof the circle. Find the area of sector AOB in terms of r.

Q:

Find the length of an arc of a circle with radius 6/n cm that subtends a central angle of 99.

Q:

Create a 200 word summary on the Juvenile Justice System than and today. Describe The Juvenile system and provide a generalizable definition. Highlight the issues in the Juvenile system and why this...

Q:

Overhead variances, service sector. Meals on Wheels (MOW) operates a meal home-delivery service. It has agreements with 20 restaurants to pick up and deliver meals to customers who phone or fax...

Q:

Manufacturing overhead, variance analysis. Solutions Corporation is a manufacturer of centrifuges. Fixed and variable manufacturing overheads are allocated to each centrifuge using budgeted...

Q:

Explain how four-variance analysis differs from one-, two-, and three-variance analysis. LO1