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  3. for the year ended december 31, 2018, norstar indu

For the year ended December 31, 2018, Norstar Industries reported net income of $655,000. At January...

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Accounting

For the year ended December 31, 2018, Norstar Industriesreported net income of $655,000. At January 1, 2018, the companyhad 900,000 common shares outstanding. The following changes in thenumber of shares occurred during 2018:
  

Apr.30Sold 60,000 shares in a public offering.
May24Declared and distributed a 5% stock dividend.
June1Issued 72,000 shares as part of the consideration for thepurchase of assets from a subsidiary.


Required:

Compute Norstar's earnings per share for the year ended December31, 2018. (Enter your answers in thousands.)

This is what I have calculated and it is incorrect. Pleasehelp.

Weighted average number of shares - Jan 1              900,000
Weighted average number of shares - Apr 30                40,000(60000*(8/12)
Weighted average of stock dividend shares distributed -May 24                47,000(900000+C13)*5%
Weighted average of stock dividend shares distributed -June 30                42,00072000*7/12
Total weighted average number of shares          1,029,000
Earnings per share =                   0.637

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