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[The following information applies to the questions displayed below.] The equity sections from Atticus Group’s 2016 and 2017 year-end balance sheets follow. Stockholders’ Equity (December 31, 2016) Common stock—$5 par value, 100,000 shares authorized, 35,000 shares issued and outstanding $ 175,000 Paid-in capital in excess of par value, common stock 135,000 Retained earnings 320,000 Total stockholders’ equity $ 630,000 Stockholders’ Equity (December 31, 2017) Common stock—$5 par value, 100,000 shares authorized, 41,400 shares issued, 3,000 shares in treasury $ 207,000 Paid-in capital in excess of par value, common stock 192,600 Retained earnings ($50,000 restricted by treasury stock) 440,000 839,600 Less cost of treasury stock (50,000 ) Total stockholders’ equity $ 789,600 The following transactions and events affected its equity during year 2017. Jan. 5 Declared a $0.50 per share cash dividend, date of record January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $0.50 per share cash dividend, date of record April 10. July 5 Declared a $0.50 per share cash dividend, date of record July 10. July 31 Declared a 20% stock dividend when the stock’s market value was $14 per share. Aug. 14 Issued the stock dividend that was declared on July 31. Oct. 5 Declared a $0.50 per share cash dividend, date of record October 10. 5. How much net income did the company earn during year 2017? This is the last question in the assignment. To submit, use Alt + S. To access other questions, proceed to the question map button.Next Visit question mapQuestion 15 of 15 Total 15 of 15 Prev

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