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The equity sections from Atticus Group's 2016 and 2017 year-end balance sheets follow. Stockholders' Equity (December 31, 2016) Common stock-$4 par value, 100,000 shares authorized, 40, ee0 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity s 16e,eee 120,000 326,00e $ 600,e00 Stockholders' Equity (December 31, 2017) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury $189,60e 179,20e 400,000 768,80e (39,900) $738,8ee Paid-in capital in excess of par value, common stock Retained earnings (s3e,e0e restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during year 2017 Jan. 5 Declared a $e.se per share cash dividend, date of record 3anuary 10. Mar. 20 Purchased treasury stock for cash Apr. 5 Declared a $e.5e per share cash dividend, date of record April 1. July 5 Declared a $e.50 per share cash dividend, date of record July 1. July 31 Declared a 2e% stock dividend when the stock's market value was $12 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $e.5e per share cash dividend, date of record October 1e. 5. How much net income did the company earn during year 2017? Net income S138,80 S 138,800 The equity sections from Atticus Group's 2016 and 2017 year-end balance sheets follow. Stockholders' Equity (December 31, 2016) Common stock-$4 par value, 100,000 shares authorized, 40, ee0 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity s 16e,eee 120,000 326,00e $ 600,e00 Stockholders' Equity (December 31, 2017) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury $189,60e 179,20e 400,000 768,80e (39,900) $738,8ee Paid-in capital in excess of par value, common stock Retained earnings (s3e,e0e restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during year 2017 Jan. 5 Declared a $e.se per share cash dividend, date of record 3anuary 10. Mar. 20 Purchased treasury stock for cash Apr. 5 Declared a $e.5e per share cash dividend, date of record April 1. July 5 Declared a $e.50 per share cash dividend, date of record July 1. July 31 Declared a 2e% stock dividend when the stock's market value was $12 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $e.5e per share cash dividend, date of record October 1e. 5. How much net income did the company earn during year 2017? Net income S138,80 S 138,800