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2. For the year ended December 31, 2006, Norstar Industries reported net income of $655,000. At January 1, 2006, the company had 900,000 common shares

2. For the year ended December 31, 2006, Norstar Industries reported net income of
$655,000. At January 1, 2006, the company had 900,000 common shares
outstanding. The following changes occurred during 2006:
Apr. 30 - sold or issued 60,000 shares in a public offering
May 24 - Declared and distributed a 5% stock dividend.
June 1 - sold and issued an additional 72,000 shares
Determine the earnings per share.
(check figure: eps = 0.64)

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