Stockholders' Equity (January 1) Common stock-$5 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 200,000 160,000 340,000 $ 700,000 Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 47,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) $ 236,000 210, 400 400,000 Less cost of treasury stock Total stockholders' equity 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. Purchased treasury stock for cash. March 20 April 5 July 5 July 31 August 14 October 5 Declared a $0.40 per share cash dividend, date of record April 10. Declared a $0.40 per share cash dividend, date of record July 10. Declared a 20% stock dividend when the stock's market value was $12 per share. Issued the stock dividend that was declared on July 31. Declared a $0.40 per share cash dividend, date of record October 10. 846,400 (40,000) $ 806,400