Question: why is this wrong For the year ended December 31, 2018, Norstar Industrles reported net Income of $975,000. At January 1, 2018, the company had

why is this wrong

For the year ended December 31, 2018, Norstar Industrles reported net Income of $975,000. At January 1, 2018, the company had 1,110,000 common shares outstanding. The following changes in the number of shares occurred during 2018 : Apr. 30 Sold 95,000 shares in a public offering. May 24 Declared and distributed a 5% stock dividend. June 1 Issued 108,000 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, 2018. (Enter your answers In thousands.)

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