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• 1. How many common shares are outstanding on each cash dividend date?
• 2. What is the total dollar amount for each of the four cash dividends?
• 3. What is the amount of retained earnings transferred to paid-in capital accounts (capitalized) for the stock dividend?
• 4. What is the per share cost of the treasury stock purchased? Note: Round your answer to 2 decimal places.
• 5. How much net income did the company earn this year?

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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 Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 150,000 110,000 340,000 600,000 Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued, 5,000 shares in treasury. Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $ 175,000 145,000 420,000 740,000 (40,000) S 700,000 The following transactions and events affected its equity during the year. January 5 Declared a $0.60 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 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 stock's market value was $12 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.60 per share cash dividend, date of record October 10. 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 Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 150,000 110,000 340,000 600,000 Stockholders' Equity (December 31) Common stock-$5 par value, 100,000 shares authorized, 35,000 shares issued, 5,000 shares in treasury. Paid-in capital in excess of par value, common stock Retained earnings ($40,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity $ 175,000 145,000 420,000 740,000 (40,000) S 700,000 The following transactions and events affected its equity during the year. January 5 Declared a $0.60 per share cash dividend, date of record January 10. March 20 Purchased treasury stock for cash. April 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 stock's market value was $12 per share. August 14 Issued the stock dividend that was declared on July 31. October 5 Declared a $0.60 per share cash dividend, date of record October 10.

Answer rating: 100% (QA)

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