Altuve Co. was incorporated on January 1, 2013, at which time 150,000 shares of $10 par value common stock were authorized, and 65,000 of these shares were issued for $13 per share. Net income for the year ended December 31, 2013, was $742,950. Altuve Co.s board of directors declared dividends of $4 per share of common stock on December 31, 2013, payable on February 7, 2014.