Required information (The following information applies to the questions displayed below.) The equity sections from Atticus Group's 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 butstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 175,000 135,000 320,000 $ 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 Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) $207,000 167,000 420,000 794,000 (40,000) $ 754,000 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during year 2017 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 208 stock dividend when the stock's market value was $10 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oet. 5 Declared a $0.50 per share cash dividend, date of record October 10. 5. How much net income did the company earn during year 2017? Net Income