The equity sections from Salazar Groups 2011 and 2012 year-end balance sheets follow. Stockholders Equity (December 31 , 201 1 ) Common stock$4 par value, 50,000 shares authorized, 20,000 shares issued and outstanding . . . . . . . . . . . . . . . . $ 80,000 Paid-in capital in excess of par value, common stock . . . . . . . . . . . . . . . 60,000 Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 60,000 Total stockholders equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $300,000 Stockholders Equity (December 31 , 201 2) Common stock$4 par value, 50,000 shares authorized, 23,700 shares issued, 1 ,500 shares in treasury . . . . . . . . . $ 94,800 Paid-in capital in excess of par value, common stock . . . . . . . . . . . . . . . 89,600 Retained earnings ($1 5,000 restricted by treasury stock) . . . . . . . . . . . 200,000 384,400 Less cost of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (1 5,000) Total stockholders equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $369,400 The following transactions and events affected its equity during year 2012. 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 $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stocks market value is $12 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. Required: 4. What is the per share cost of the treasury stock purchased? 5. How much net income did the company earn during year 2012