The equity sections from Atticus Groups 2015 and 2016 year-end balance sheets follow. Stockholders Equity (December 31,

Question:

The equity sections from Atticus Group’s 2015 and 2016 year-end balance sheets follow.
Stockholders’ Equity (December 31, 2015)
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, . . . . . . . . . . . . . . . 120,000
Retained earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 320,000
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$600,000
Stockholders’ Equity (December 31, 2016)
Common stock—$4 par value, 100,000 shares
authorized, 47,400 shares issued, 3,000 shares in treasury . . . . . . . . . $189,600
Paid-in capital in excess of par value, . . . . . . . . . . . . . . 179,200
Retained earnings ($30,000 restricted by treasury stock) . . . . . . . . . . . . 400,000
768,800
Less cost of treasury stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (30,000)
Total stockholders’ equity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $738,800
The following transactions and events affected its equity during year 2016.
Jan. 5 Declared a $0.50 per share cash date of record January 10.
Mar. 20 Purchased treasury stock for cash.
Apr. 5 Declared a $0.50 per share cash date of record April 10.
July 5 Declared a $0.50 per share cash date of record July 10.
July 31 Declared a 20% stock when the stock’s market value is $12 per share.
Aug. 14 Issued the stock that was declared on July 31.
Oct. 5 Declared a $0.50 per share cash date of record October 10.
Required
1. How many common shares are outstanding on each cash 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 What is the per share cost of the treasury stock purchased?
5. How much net income did the company earn during year 2016?
Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Dividend
A dividend is a distribution of a portion of company’s earnings, decided and managed by the company’s board of directors, and paid to the shareholders. Dividends are given on the shares. It is a token reward paid to the shareholders for their...