7.For the year ended December 31, 2018, Norstar Industries reported net income of $980,000. At...
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7.For the year ended December 31, 2018, Norstar Industries reported net income of $980,000. At January 1, 2018, the company had 1,130,000 common shares outstanding. The following changes in the number of shares occurred during 2018: 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, 2018.
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