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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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