The equity sections from Hovo Corporations 2016 and 2017 balance sheets follow.

Stockholders Equity (December 31, 2016) Common stock$20 par value, 30,000 shares authorized, 17,000 shares issued and outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $340,000 Paid-in capital in excess of par value, common stock . . . . . . . . . . . . . . . . . . . . 60,000 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 270,000 Total stockholders equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $670,000

Stockholders Equity (December 31, 2017) Common stock$20 par value, 30,000 shares authorized, 19,000 shares issued, 1,000 shares in treasury . . . . . . . . . . . . . . . . . . . . . . . $380,000 Paid-in capital in excess of par value, common stock . . . . . . . . . . . . . . . . . . . . . 104,000 Retained earnings ($40,000 restricted by treasury stock) . . . . . . . . . . . . . . . . . 295,200 779,200 Less cost of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (40,000) Total stockholders equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $739,200

The following transactions and events affected its equity during year 2017. Feb. 15 Declared a $0.40 per share cash dividend, date of record five days later. Mar. 2 Purchased treasury stock for cash. May 15 Declared a $0.40 per share cash dividend, date of record five days later. Aug. 15 Declared a $0.40 per share cash dividend, date of record five days later. Oct. 4 Declared a 12.5% stock dividend when the stocks market value is $42 per share. Oct. 20 Issued the stock dividend that was declared on October 4. Nov. 15 Declared a $0.40 per share cash dividend, date of record five days later.

Required 1. How many common shares are outstanding on each cash dividend date? 2. What is the total dollar amount for each of the four cash dividends? 3. What is the amount of the capitalization of retained earnings for the stock dividend? 4. What is the per share cost of the treasury stock purchased? 5. How much net income did the company earn during year 2017?