Question
For the year ended December 31, 2018, Norstar Industries reported net income of $940,000. At January 1, 2018, the company had 860,000 common shares outstanding.
For the year ended December 31, 2018, Norstar Industries reported net income of $940,000. At January 1, 2018, the company had 860,000 common shares outstanding. The following changes in the number of shares occured during 2018:
April 30 - Sold 60,000 shares in a public offering.
May 24 - Declared and distributed a 5% stock dividend.
June 1 - Issued 60.000 shares as part of the consideration for the purchase of assets from a subsidiary.
Compute Norstar's earnings per share for the year ended December 31, 2018.
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Fundamental Accounting Principles
Authors: Larson Kermit, Tilly Jensen
Volume I, 14th Canadian Edition
71051503, 978-1259066511, 1259066517, 978-0071051507
