if you can please explain the net income. Thank you
[The following information applies to the questions displayed below.] The equity sections from Atticus Group's 2016 and 2017 year-end balance sheets follow. Stockholders' Equity (December 31, 2016) Common stock-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 160,000 120,000 360,000 $ 640,000 Stockholders' Equity (December 31, 2017) Common stock-$4 par value, 100,000 shares authorized, 47,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) $ 188,000 176,000 400,000 764,000 (30,000) $734,000 Less cost of treasury stock Total stockholders' equity Less cost of treasury stock Total stockholders' equity 764,000 (30,000) $734,000 The following transactions and events affected its equity during year 2017. Jan. 5 Declared a $0.40 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.40 per share cash dividend, date of record April 10. July 5 Declared a $0.40 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock's market value was $12 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.40 per share cash dividend, date of record October 10. 5. How much net income did the company earn during year 2017? Net income Required information [The following information applies to the questions displayed below.] Raphael Corporation's common stock is currently selling on a stock exchange at $155 per share, and its current balance sheet shows the following stockholders' equity section: $ 95,000 Preferred stock-5% cumulative, $_ par value, 1,000 shares authorized, issued, and outstanding Common stock-$ __ par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity 140,000 330,000 $ 565,000 Required: 1. What is the current market value (price) of this corporation's common stock? Market price per share Required information [The following information applies to the questions displayed below.) Raphael Corporation's common stock is currently selling on a stock exchange at $155 per share, and its current balance sheet shows the following stockholders' equity section: $ 95,000 Preferred stock-5% cumulative, $__ par value, 1,000 shares authorized, issued, and outstanding Common stock-$__ par value, 4,000 shares authorized, issued, and outstanding Retained earnings Total stockholders' equity 140,000 330,000 $ 565,000 2. What are the par values of the corporation's preferred stock and its common stock? Par Value Corporation's preferred stock Corporation's common stock
