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Required information [The following information applies to the questions displayed below.] The equity sections from Atticus Groups 2016 and 2017 year-end balance sheets follow. Stockholders
Required information
[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$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding | $ | 175,000 |
Paid-in capital in excess of par value, common stock | 135,000 | |
Retained earnings | 320,000 | |
Total stockholders equity | $ | 630,000 |
Stockholders Equity (December 31, 2017) | |||
Common stock$5 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury | $ | 207,000 | |
Paid-in capital in excess of par value, common stock | 192,600 | ||
Retained earnings ($50,000 restricted by treasury stock) | 440,000 | ||
839,600 | |||
Less cost of treasury stock | (50,000 | ) | |
Total stockholders equity | $ | 789,600 | |
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?
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