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The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow.

Stockholders Equity (January 1) Common stock$4 par value, 100,000 shares authorized, 35,000 shares issued and outstanding $ 140,000 Paid-in capital in excess of par value, common stock 100,000 Retained earnings 340,000 Total stockholders equity $ 580,000 Stockholders Equity (December 31) Common stock$4 par value, 100,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury $ 164,800 Paid-in capital in excess of par value, common stock 149,600 Retained earnings ($60,000 restricted by treasury stock) 420,000 734,400 Less cost of treasury stock (60,000) Total stockholders equity $ 674,400 The following transactions and events affected its equity during the year.

January 5 Declared a $0.60 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 5 Declared a $0.60 per share cash dividend, date of record April 10. July 5 Declared a $0.60 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stocks market value was $12 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.60 per share cash dividend, date of record October 10. 5. How much net income did the company earn this year?