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Thanks in advance! The equity sections from Atticus Group's 2017 and 2018 year-end balance sheets follow Stockholders' Equity (December 31, 2017) Common stock-$5 par value,
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The equity sections from Atticus Group's 2017 and 2018 year-end balance sheets follow Stockholders' Equity (December 31, 2017) Common stock-$5 par value, 100,000 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, 2018) Common stock-$5 par value, 100,000 shares authorized, 41,000 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) $205,000 165,000 440,000 810,000 (40,000) $770,000 cost of treasury stock Total stockholders equity The following transactions and events affected its equity during year 2018. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. July uly 31 Declared a 20% stock dividendwhen the stocks market value was $10 pen share. Aug Oct. 5 Declared a $e.50 per share cash dividend, date of record April 10. 5 Declared a $0.50 per share cash dividend, date of record July 10. 14 Issued the stock dividenc that was declared on uly 1 5 Declared a $e.50 pen share cash dividend, date of record October 10. Required: 1. How many common shares are outstanding on each cash dividend date? Jan. 5 Apr. 5 30,000 July 5 Oct. 5 Outstanding common shares 35,000 30,000 2. What is the total dollar amount for each of the four cash dividends? Jan. 5 Ap. 5 July 5 Oct. 5 Cash dividend amounts 3. What is the amount of the capitalization of retained earnings for the stock dividend? Capitalization amount What is the per share cost of the treasury stock purchased? (Round your answer to the nearest whole dollar amount.) Cost per share 5. How much net income did the company earn during year 2018? Net income Step by Step Solution
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