Required information Problem 11-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3 [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, 30,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 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 $0.60 per share cash dividend, date of record January 10. Purchased treasury stock for cash. Declared a $0.60 per share cash dividend, date of record April 10. Declared a $0.60 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 $0.60 per share cash dividend, date of record October 10. $ 120,000 80,000 360,000 $ 560,000 $ 141,600 123,200 420,000 684,800 (40,000) $ 644,800 Problem 11-4A (Algo) Part 5 5. How much net income did the company earn this year? Net income
Required information Problem 11-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3 [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, 30,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity Stockholders' Equity (December 31) Common stock-$4 par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($40,000 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 $0.60 per share cash dividend, date of record January 10. Purchased treasury stock for cash. Declared a $0.60 per share cash dividend, date of record April 10. Declared a $0.60 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 $0.60 per share cash dividend, date of record October 10. $ 120,000 80,000 360,000 $ 560,000 $ 141,600 123,200 420,000 684,800 (40,000) $ 644,800 Problem 11-4A (Algo) Part 5 5. How much net income did the company earn this year? Net income
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter10: Stockholder's Equity
Section: Chapter Questions
Problem 57E: Outstanding Stock Lars Corporation shows the following information in the stockholders equity...
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Capitalization Amount is $64,800. Cost per share is $13.33
Looking for Net inocme
![Required information
Problem 11-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3
[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, 30,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$4 par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in
treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($40,000 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 $0.60 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
Declared a $0.60 per share cash dividend, date of record April 10.
Declared a $0.60 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 $0.60 per share cash dividend, date of record October 10.
$ 120,000
80,000
360,000
$ 560,000
$ 141,600
123,200
420,000
684,800
(40,000)
$ 644,800
Problem 11-4A (Algo) Part 5
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%2Fa4d34727-7557-4f8a-8f3f-afd6f3e4c029%2Fgzs4lgt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
Problem 11-4A (Algo) Analyzing changes in stockholders' equity accounts LO C3, P2, P3
[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, 30,000 shares issued and outstanding
Paid-in capital in excess of par value, common stock
Retained earnings
Total stockholders' equity
Stockholders' Equity (December 31)
Common stock-$4 par value, 100,000 shares authorized, 35,400 shares issued, 3,000 shares in
treasury
Paid-in capital in excess of par value, common stock
Retained earnings ($40,000 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 $0.60 per share cash dividend, date of record January 10.
Purchased treasury stock for cash.
Declared a $0.60 per share cash dividend, date of record April 10.
Declared a $0.60 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 $0.60 per share cash dividend, date of record October 10.
$ 120,000
80,000
360,000
$ 560,000
$ 141,600
123,200
420,000
684,800
(40,000)
$ 644,800
Problem 11-4A (Algo) Part 5
5. How much net income did the company earn this year?
Net income
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