Problem 13-4A Analysis of changes in stockholders' equity accounts LO C3, P2, P3

[The following information applies to the questions displayed below.] The equity sections from Atticus Groups 2016 and 2017 year-end balance sheets follow.

Stockholders Equity (December 31, 2016)

Common stock$6 par value, 100,000 shares authorized, 35,000 shares issued and outstanding	$210,000
Paid-in capital in excess of par value, common stock	170,000
Retained earnings	340,000
Total stockholders equity	$720,000

Stockholders Equity (December 31, 2017)

Common stock$6 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury	$248,400
Paid-in capital in excess of par value, common stock	221,200
Retained earnings ($50,000 restricted by treasury stock)	400,000
	869,600
Less cost of treasury stock	(50,000)
Total stockholders equity	$819,600

The following transactions and events affected its equity during year 2017.

Jan.	5	Declared a $0.50 per share cash dividend, date of record January 10.
Mar.	20	Purchased treasury stock for cash.
Apr.	5	Declared a $0.50 per share cash dividend, date of record April 10.
July	5	Declared a $0.50 per share cash dividend, date of record July 10.
July	31	Declared a 20% stock dividend when the stocks market value was $14 per share.
Aug.	14	Issued the stock dividend that was declared on July 31.
Oct.	5	Declared a $0.50 per share cash dividend, date of record October 10. 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 2017?