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Exercise 19-12 EPS; shares issued; stock dividend [L019-5, 19-6] For the year ended December 31, 2018, Norstar Industries reported net income of $960,000. At January
Exercise 19-12 EPS; shares issued; stock dividend [L019-5, 19-6] For the year ended December 31, 2018, Norstar Industries reported net income of $960,000. At January 1, 2018, the company had 050,000 common shares outstanding. The following changes in the number of shares occurred during 2018: Apr. 30 Sold 80,000 shares in a public offering May 24 Declared and distributed a 58 stock dividend. June Issued 90,000 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.) Numerator Denominator Earnings per Share
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