Question

[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		340,000
Total stockholders’ equity	$	650,000

Stockholders’ Equity (December 31, 2017)
Common stock—$5 par value, 100,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury	$	206,000
Paid-in capital in excess of par value, common stock		190,800
Retained earnings ($30,000 restricted by treasury stock)		400,000
		796,800
Less cost of treasury stock		(30,000	)
Total stockholders’ equity	$	766,800

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.

Problem 13-4A Part 1

Required:
1. How many common shares are outstanding on each cash dividend date?

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		340,000
Total stockholders’ equity	$	650,000

Stockholders’ Equity (December 31, 2017)
Common stock—$5 par value, 100,000 shares authorized, 41,200 shares issued, 4,000 shares in treasury	$	206,000
Paid-in capital in excess of par value, common stock		190,800
Retained earnings ($30,000 restricted by treasury stock)		400,000
		796,800
Less cost of treasury stock		(30,000	)
Total stockholders’ equity	$	766,800

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.

Problem 13-4A Part 2

2. What is the total dollar amount for each of the four cash dividends?