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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
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 1) Common stock-84 par value, 100,000 shares authorized, 40,800 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 160,000 120,000 320,000 $ 600,000 Stockholders' Equity (December 31) Common stock-54 par value, 180,000 shares authorized, 47, 400 shares Issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained d earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $189,600 179,200 400,000 768,800 (30.000 $738,800 The following transactions and events affected its equity during the year Jan. 5. Declared a $0.50 per share cash dividend, date of record January 10 Mar. 20. Purchased treasury stock for cash Apr 5 Declared a 50.50 per share cash dividend, date of record April 10. July 5 Declared $0.50 per share cash dividend, date of record July 10 July 31 Declared 20% stock dividend when the stock's market value was $12 per share Aus 14 Issued the stock dividend that was declared on July 31 Oct. 5 Declared a $9.50 per 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 July 5 Oct. 5 Outstanding common shares 3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend? Capitalization amount 4. What is the per share cost of the treasury stock purchased? Cost per share 5. How much net income did the company earn this year? Net income 2. What is the total dollar amount for each of the four cash dividends? Jan. 5 Apr. 5 July 5 Oct. 5 Cash dividend amounts
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