Altuve Co. was incorporated on January 1, 2016, at which time 225,000 shares of $10 par value common stock were authorized, and 95,000 of these shares were issued for $16 per share. Net income for the year ended December 31, 2016, was $1,085,850. Altuve Co.s board of directors declared dividends of $4 per share of common stock on December 31, 2016, payable on February 7, 2017.