For the year ended December 31, 2016, Norstar Industries reported net income of $980,000. At January 1, 2016, the company had 1,130,000 common shares outstanding. The following changes in the number of shares occurred during 2016:

Apr. 30 Sold 100,000 shares in a public offering.

May 24 Declared and distributed a 5% stock dividend.

June 1 Issued 114,000 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, 2016. (Enter your answers in thousands.)