Stockholders' Equity (December 31, 2015) 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, 2016) Common stock-$6 par value, 50,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) $246,000 206,000 420,000 872,000 (50,000) Less cost of treasury stock Total stockholders' equity $822,000 The following transactions and events affected its equity during year 2016 Jan. 5 Declared a $0.40 per share cash dividend, date of record January 10. Mar. 20Purchased treasury stock for cash Apr. 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 is $12 per share Aug. 14 Issued the stock dividend that was declared on July 31 Oct. 5 Declared a $0.40 per share cash dividend, date of record October 10