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$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding	$ 160,000
Paid-in capital in excess of par value, common stock	120,000
Retained earnings	320,000
Total 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	$ 189,600
Paid-in capital in excess of par value, common stock	179,200
Retained earnings ($30,000 restricted by treasury stock)	400,000
	768,800
Less cost of treasury stock	(30,000)
Total stockholders equity	$ 738,800

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

January 5	Declared a $0.50 per share cash dividend, payable on January 10.
March 20	Purchased treasury stock for cash.
April 5	Declared a $0.50 per share cash dividend, payable on April 10.
July 5	Declared a $0.50 per share cash dividend, payable on July 10.
July 31	Declared a 20% stock dividend when the stocks market value was $12 per share.
August 14	Issued the stock dividend that was declared on July 31.
October 5	Declared a $0.50 per share cash dividend, date of record October 10.

• 1

  Declared a $0.50 per share cash dividend, payable on January 10.

• 2

  Record payment of the 01/05 dividend.

• 3

  Purchased treasury stock for cash. Hint: Use information from the December 31 Stockholders' equity statement. Entry to restrict retained earnings is not required.

• 4

  Declared a $0.50 per share cash dividend, payable on April 10.

• 5

  Record payment of the 04/05 dividend.

• 6

  Declared a $0.50 per share cash dividend, payable on July 10.

• 7

  Record payment of the 07/05 dividend.

• 8

  Declared a 20% stock dividend when the stock's market value is $12 per share.

• 9

  Issued the stock dividend that was declared on July 31.

• 10

  Declared a $0.50 per share cash dividend, date of record October 10.

• 11

  Record payment of the 10/10 dividend.

• 12

  Close income summary to retained earnings.