Stockholders' Equity (December 31, 2013) Common stock-$6 par value, 50,000 shares authorized, 35,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings $210,000 170,000 340,000 Total stockholders' equity $720,000 Stockholders' Equity (December 31, 2014) Common stock-$6 par value, 50,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) $248,400 221,200 400,000 869,600 (50,000) Less cost of treasury stock Total stockholders' equity 819,600 The following transactions and events affected its equity during year 2014 Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20Purchased 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 stock's market value is $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 10O