WEEK SEVEN

The following information applies to the questions displayed below.]

The equity sections from Atticus Groups 2015 and 2016 year-end balance sheets follow.

Stockholders Equity (December 31, 2015)
Common stock$4 par value, 50,000 shares authorized, 35,000 shares issued and outstanding	$	140,000
Paid-in capital in excess of par value, common stock		100,000
Retained earnings		320,000
Total stockholders equity	$	560,000

Stockholders Equity (December 31, 2016)
Common stock$4 par value, 50,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury	$	165,600
Paid-in capital in excess of par value, common stock		151,200
Retained earnings ($30,000 restricted by treasury stock)		400,000
		716,800
Less cost of treasury stock		(30,000	)
Total stockholders equity	$	686,800

The following transactions and events affected its equity during year 2016.

Jan.	5	Declared a $0.60 per share cash dividend, date of record January 10.
Mar.	20	Purchased treasury stock for cash.
Apr.	5	Declared a $0.60 per share cash dividend, date of record April 10.
July	5	Declared a $0.60 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 $0.60 per share cash dividend, date of record October 10.

Required:
1.	How many common shares are outstanding on each cash dividend date?

	Jan. 5	Apr. 5	July 5	Oct. 5
Outstanding common shares

2.	What is the total dollar amount for each of the four cash dividends?

	Jan. 5	Apr. 5	July 5	Oct. 5
Cash dividend amounts

3.	What is the amount of the capitalization of retained earnings for the stock dividend?

Capitalization amount:

4.	What is the per share cost of the treasury stock purchased? (Round your answer to 2 decimal places.)

Cost per share

5.	How much net income did the company earn during year 2016?

Net income

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