The equity sections for Atticus Group at the beginning of the year (January 1) and end of the year (December 31) follow.

Stockholders' Equity January 1Common stock?$4 par value, 100,000 shares

authorized, 40,000 shares issued and outstanding$160,000Paid-in capital in excess of par value, common stock120,000Retained earnings320,000Total stockholders' equity$600,000

Stockholders' Equity (December 31)Common stock?$4 par value, 100,000 shares

authorized, 47,400 shares issued, 3,000 shares in treasury$189,600Paid-in capital in excess of par value, common stock179,200Retained earnings ($30,000 restricted by treasury stock)400,000768,800Less cost of treasury stock(30,000)Total stockholders' equity$738,800

The following transactions and events affected its equity during the year.

Jan.5Declared a $0.50 per share cash dividend, payable on January 10.Mar.20Purchased treasury stock for cash.Apr.5Declared a $0.50 per share cash dividend, payable on April 10.July5Declared a $0.50 per share cash dividend, payable on July 10.July31Declared a 20% stock dividend when the stock's market value was $12 per share.Aug.14Issued the stock dividend that was declared on July 31.Oct.5Declared a $0.50 per share cash dividend, date of record October 10.

\fThe equity sections for Atticus Group at the beginning of the year {January 1} and end of the year {December 31} follow. Stockholders' Equity January 1 Common stock$4 par value, 188,888 shares authorized, 48,888 shares issued and outstanding $ 168,888 Paid-in capital in excess of par value, common stock 128,888 Retained earnings 328,888 Total stockholders' equity $ 688,888 Stockholders' Equity (December 31) Common stock$4 par value, 188,888 shares authorized, 4?,488 shares issued, 3,888 shares in treasury $189,688 Paid-in capital in excess of par value, common stock 1?9,288 Retained earnings ($38,888 restricted by treasury stock) 488,888 768,888 Less cost of treasury stock (38,888) Total stockholders' equity $?38,888 The following transactions and events affected its equity during the year. Jan. 5 Declared a $8.58 per share cash dividend, payable on January 18. Mar. 28 Purchased treasury stock For cash. pr. 5 Declared a $8.58 per share cash dividend, payable on April 18. July 5 Declared a $8.58 per share cash dividend, payable on July 18. July 31 Declared a 28% stock dividend when the stock's market value was $12 per share. hug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $8.58 per share cash dividend, date of record October 18. Journal entry worksheet lClose income summary to retained earnings. Note: Enter debits before credits. Record entry Clear entry View general journal