Required information

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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, $40,000$ shares issued and

outstanding

Stockholders' Equity $($December $31)$

Common stock$-$ $$4$ par value, $100,000$ shares authorized, $47,400$ shares issued, $3,000$ shares in

treasury

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

January $5$ Declared a $$0\mathrm{.}50$ per share cash dividend, date of record January $10.$

March $20$ Purchased treasury stock for cash.

April $5$ Declared a $$0\mathrm{.}50$ per share cash dividend, date of record April $10.$

July $5$ Declared a $$0\mathrm{.}50$ 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.

August $14$ Issued the stock dividend that was declared on July $31.$

October $5$ Declared a $$0\mathrm{.}50$ per share cash dividend, date of record October $10.$

How much net income did the company earn this year?