5. How much net income did the company earn this year? Net income Required information [The following information applies to the questions displayed below.] 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-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock $ 160,000 120,000 320,000 $ 600,000 Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 March 20 April 5 July 5 July 31 August 14 October 5 Declared a $0.50 per share cash dividend, date of record January 10. Purchased treasury stock for cash. Declared a $0.50 per share cash dividend, date of record April 10. Declared a $0.50 per share cash dividend, date of record July 10. Declared a 20% stock dividend when the stock's market value was $12 per share. Issued the stock dividend that was declared on July 31. Declared a $0.50 per share cash dividend, date of record October 10. $ 189,600 179,200 400,000 768,800 (30,000) $ 738,800 4. What is the per share cost of the treasury stock purchased? Cost per share
5. How much net income did the company earn this year? Net income Required information [The following information applies to the questions displayed below.] 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-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding Paid-in capital in excess of par value, common stock $ 160,000 120,000 320,000 $ 600,000 Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($30,000 restricted by treasury stock) Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during the year. January 5 March 20 April 5 July 5 July 31 August 14 October 5 Declared a $0.50 per share cash dividend, date of record January 10. Purchased treasury stock for cash. Declared a $0.50 per share cash dividend, date of record April 10. Declared a $0.50 per share cash dividend, date of record July 10. Declared a 20% stock dividend when the stock's market value was $12 per share. Issued the stock dividend that was declared on July 31. Declared a $0.50 per share cash dividend, date of record October 10. $ 189,600 179,200 400,000 768,800 (30,000) $ 738,800 4. What is the per share cost of the treasury stock purchased? Cost per share
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![5. How much net income did the company earn this year?
Net income](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe18c4c3e-fff6-4ff0-8265-a5151c1bba12%2Ff50a0fba-d6ba-4b50-9d8e-dcb2acc207a6%2Fvqt73sla_processed.jpeg&w=3840&q=75)
Transcribed Image Text:5. How much net income did the company earn this year?
Net income
![Required information
[The following information applies to the questions displayed below.]
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-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
$ 160,000
120,000
320,000
$ 600,000
Retained earnings
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in
treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($30,000 restricted by treasury stock)
Less cost of treasury stock
Total stockholders' equity
The following transactions and events affected its equity during the year.
January 5
March 20
April 5
July 5
July 31
August 14
October 5
Declared a $0.50 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
Declared a $0.50 per share cash dividend, date of record April 10.
Declared a $0.50 per share cash dividend, date of record July 10.
Declared a 20% stock dividend when the stock's market value was $12 per share.
Issued the stock dividend that was declared on July 31.
Declared a $0.50 per share cash dividend, date of record October 10.
$ 189,600
179,200
400,000
768,800
(30,000)
$ 738,800
4. What is the per share cost of the treasury stock purchased?
Cost per share](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe18c4c3e-fff6-4ff0-8265-a5151c1bba12%2Ff50a0fba-d6ba-4b50-9d8e-dcb2acc207a6%2Fb1puns7_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below.]
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-$4 par value, 100,000 shares authorized, 40,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
$ 160,000
120,000
320,000
$ 600,000
Retained earnings
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$4 par value, 100,000 shares authorized, 47,400 shares issued, 3,000 shares in
treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($30,000 restricted by treasury stock)
Less cost of treasury stock
Total stockholders' equity
The following transactions and events affected its equity during the year.
January 5
March 20
April 5
July 5
July 31
August 14
October 5
Declared a $0.50 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
Declared a $0.50 per share cash dividend, date of record April 10.
Declared a $0.50 per share cash dividend, date of record July 10.
Declared a 20% stock dividend when the stock's market value was $12 per share.
Issued the stock dividend that was declared on July 31.
Declared a $0.50 per share cash dividend, date of record October 10.
$ 189,600
179,200
400,000
768,800
(30,000)
$ 738,800
4. What is the per share cost of the treasury stock purchased?
Cost per share
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