Question: For the year ended December 3 1 , 2 0 2 4 , Norstar Industries reported net income of $ 9 8 5 , 0

For the year ended December

31, 2024,

Norstar Industries reported net income of $

985, 000 .

At January

1, 2024,

the company had

1, 150, 000

common shares outstanding. The following changes in the number of shares occurred during

2024

: April

30

Sold

105, 000

shares in a public offering May

24

Declared and distributed a

5 %

stock dividend June

1

Issued

120, 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 .

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