Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i already tried 1354.5, it says to answer in thousands but it automatically rounds For the year ended December 31, 2021, Norstar Industries reported net

image text in transcribed
i already tried 1354.5, it says to answer in thousands but it automatically rounds
For the year ended December 31, 2021, Norstar Industries reported net income of $985,000. At January 1, 2021, the company had 1,150,000 common shares outstanding. The following changes in the number of shares occurred during 2021 Apr. 30 Sold 105,000 shares in a public offering. May 24 Declared and distributed a 5% stock dividend. June 1 Issued 120,000 shores 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, 2021 (Enter your answers in thousands. Round "EPS answer to 2 decimal places. Do not round intermediate calculations.) Answer is complete but not entirely correct. Denominator 1,355 Numerator 985 Earnings per Share 0.73

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Becker CPA Exam Final Review Auditing

Authors: Becker

1st Edition

1943628521, 978-1943628520

More Books

Students also viewed these Accounting questions

Question

When should you avoid using exhaust brake select all that apply

Answered: 1 week ago