Acct312 Intermediate Accounting: E19-10 For the year ended December 31, 2013, Norstar

Acct312 Intermediate Accounting
Week 4 Homework

E19-10 EPS; shares issued; stock dividend
For the year ended December 31, 2013, Norstar Industries reported net income of $655,000. At January 1, 2013, the company had 900,000 common shares outstanding. The following changes in the number of shares occurred during 2013:
30-Apr Sold 60,000 shares in a public offering.
24-May Declared and distributed a 5% stock dividend.
1-Jun Issued 72,000 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, 2013.
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