Required information [The following information applies to the questions displayed below.] 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-$5 par value, 100,000 shares authorized, 30,000 shares issued and outstanding $ 150, 000 Paid-in capital in excess of par value, common stock 110,000 Retained earnings 340,000 Total stockholders' equity $ 600,000 Stockholders Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 35, 200 shares issued, 4,000 shares in treasury $ 176,000 Paid-in capital in excess of par value, common stock 146, 400 Retained earnings ($40,000 restricted by treasury stock) 420,000 742, 400 Less cost of treasury stock (40, 000) Total stockholders' equity $ 702, 400 The following transactions and events affected its equity during the year. January 5 Declared a $0.40 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 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. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.40 per share cash dividend, date of record October 10. 5. How much net income did the company earn this year