[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-$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, 47,200 shares issued, 4,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($50,000 restricted by treasury stock) $188,800 177,600 440,000 806,400 (150.000) $756,400 Leus cost of treasury stock Total stockholders' equity 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 208 stock dividend when the stock's market value vas 512 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 por share cash dividend, date of record October 10. 5. How much net income did the company ear this year? Net income $ 263,200