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[The following information applies to the questions displayed below.] The equity sections for Atticus Group at the beginning of the year (January 1) and end

[The following information applies to the questions displayed below.] 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$5 par value, 100,000 shares authorized, 30,000 shares issued and outstanding $ 150,000
Paid-in capital in excess of par value, common stock 110,000
Retained earnings 340,000
Total stockholders equity $ 600,000

Stockholders Equity (December 31)
Common stock$5 par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in treasury $ 177,000
Paid-in capital in excess of par value, common stock 137,000
Retained earnings ($60,000 restricted by treasury stock) 420,000
734,000
Less cost of treasury stock (60,000 )
Total stockholders equity $ 674,000

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 $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 was $10 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.

5. How much net income did the company earn this year?

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