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

Stockholders Equity (January 1)
Common stock$8 par value, 120,000 shares authorized, 50,000 shares issued and outstanding	$ 400,000
Paid-in capital in excess of par value, common stock	60,000
Retained earnings	330,000
Total stockholders equity	$ 790,000

Stockholders Equity (December 31)
Common stock$8 par value, 120,000 shares authorized, 55,520 shares issued, 4,000 shares in treasury	$ 444,160
Paid-in capital in excess of par value, common stock	115,200
Retained earnings ($64,000 restricted by treasury stock)	590,000
	1,149,360
Less cost of treasury stock	(64,000)
Total stockholders equity	$ 1,085,360

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

January 5	Declared a $0.60 per share cash dividend, payable on January 10.
March 20	Purchased treasury stock for cash.
April 5	Declared a $0.60 per share cash dividend, payable on April 10.
July 5	Declared a $0.60 per share cash dividend, payable on July 10.
July 31	Declared a 12% stock dividend when the stocks market value was $18 per share.
August 14	Issued the stock dividend that was declared on July 31.
October 5	Declared a $0.60 per share cash dividend, date of record October 10.

1

Calculation of Cash Dividends
	January 05	April 05	July 05	October 05
How many common shares are outstanding?
Dividend per share
Total cash dividend

2

Capitalization of retained earnings due to stock dividend:
Number of shares outstanding on July 30
Percentage of stock dividend
Number of shares to be issued
Amount to be capitalized per share
Total amount to be capitalized