The equity sections from Hovo Corporation?s 2017 and 2018 balance sheets follow.

The following transactions and events affected its equity during year 2018.

Feb. 15 Declared a $0.40 per share cash dividend, date of record five days later.

Mar. 2 Purchased treasury stock for cash.

May. 15 Declared a $0.40 per share cash dividend, date of record five days later.

Aug. 15 Declared a $0.40 per share cash dividend, date of record five days later.

Oct. 4 Declared a 12.5% stock dividend when the stock?s market value is $42 per share.

Oct 20 Issued the stock dividend that was declared on October 4.

Nov. 15 Declared a $0.40 per share cash dividend, date of record five days later.

Required

1. How many common shares are outstanding on each cash dividend date?

2. What is the total dollar amount for each of the four cash dividends?

3. What is the amount of the capitalization of retained earnings for the stock dividend?

4. What is the per share cost of the treasury stock purchased?

5. How much net income did the company earn during year 2018?

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Stockholders' Equity (December 31, 2017) Common stock-$20 par value, 30,000 shares authorized, 17,000 shares issued and outstanding ... Paid-in capital in excess of par value, common stock Retained earnings.... $340,000 60,000 270,000 Total stockholders' equity . $670,000 Stockholders' Equity (December 31, 2018) Common stock-$20 par value, 30,000 shares authorized, 19,000 shares issued, 1,000 shares in treasury . $380,000 Paid-in capital in excess of par value, common stock 104,000 Retained eamings ($40,000 restricted by treasury stock). 295.200 779,200 Less cost of treasury stock... (40,000) $739,200 Total stockholders' equity