Stockholders' Equity (December 31, 2013) Common stock-$5 par value, 50,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $ 175,000 135,000 340,000 Total stockholders' equity $650,000 Stockholders' Equity (December 31, 2014) Common stock-$5 par value, 50,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) $206,000 178,400 440,000 824,400 (50,000) Less cost of treasury stock Total stockholders' equity $774,400 The following transactions and events affected its equity during year 2014 Jan. Mar. Apr. July July Aug. Oct. 5 Declared a $0.50 per share cash dividend, date of record January 10 20 Purchased treasury stock for cash. 5 Declared a $0.50 per share cash dividend, date of record April 10. 5 Declared a $0.50 per share cash dividend, date of record July 10. 31 Declared a 20% stock dividend when the stock's market value is $12 per share. 14 Issued the stock dividend that was declared on July 31. 5 Declared a $0.50 per share cash dividend, date of record October 10