The equity sections from OnPoint Groups 2016 and 2017 year-end balance sheets follow. Stockholders Equity (December 31, 2016) Common stock$8 par value, 120,000 shares authorized, 50,000 shares issued and outstanding $ 400,000 Paid-in capital in excess of par value, common stock 60,000 Retained earnings 330,000 Total stockholders equity $ 790,000 Stockholders Equity (December 31, 2017) Common stock$8 par value, 120,000 shares authorized, 55,520 shares issued, 4,000 shares in treasury $ 444,160 Paid-in capital in excess of par value, common stock 115,200 Retained earnings ($64,000 restricted by treasury stock) 590,000 1,149,360 Less cost of treasury stock (64,000 ) Total stockholders equity $ 1,085,360 The following transactions and events affected its equity during year 2017. Jan. 5 Declared a $0.60 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.60 per share cash dividend, payable on April 10. July 5 Declared a $0.60 per share cash dividend, payable on July 10. July 31 Declared a 12% stock dividend when the stocks market value was $18 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