tockholders$$ Equity $($January $1)$Common stock$$$$4$ par value, $100,000$ shares authorized, $35,000$ shares issued and outstanding$ $140,000$Paid$-$in capital in excess of par value, common stock$100,000$Retained earnings$360,000$Total stockholders$$ equity$ $600,000$

Stockholders$$ Equity $($December $31)$Common stock$$$$4$ par value, $100,000$ shares authorized, $41,000$ shares issued, $5,000$ shares in treasury$ $164,000$Paid$-$in capital in excess of par value, common stock$148,000$Retained earnings $($$$60,000$ restricted by treasury stock$)400,000712,000$Less cost of treasury stock$(60,000)$Total stockholders$$ equity$ $652,000$

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

January $5$Declared a $$0\mathrm{.}40$ per share cash dividend, date of record January $10.$March $20$Purchased treasury stock for cash.April $5$Declared a $$0\mathrm{.}40$ per share cash dividend, date of record April $10.$July $5$Declared a $$0\mathrm{.}40$ per share cash dividend, date of record July $10.$July $31$Declared a $20\%$ stock dividend when the stock$$s market value was $$12$ per share.August $14$Issued the stock dividend that was declared on July $31.$October $5$Declared a $$0\mathrm{.}40$ per share cash dividend, date of record October $10.$

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

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January $5$ Declared a $$0\mathrm{.}40$ per share cash dividend, date of record January $10.$

March $20$ Purchased treasury stock for cash.

April $5$ Declared a $$0\mathrm{.}40$ per share cash dividend, date of record April $10.$

July $5$ Declared a $$0\mathrm{.}40$ 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\mathrm{.}40$ per share cash dividend, date of record October $10.$

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$5.$ How much net income did the company earn this year?