Stockholders Equity (December 31, 2013)Common stock—$5

Stockholders’ Equity (December 31, 2013)Common stock—$5 par value, 50,000 sharesauthorized, 40,000 shares issued and outstanding$200,000Paid-in capital in excess of par value, common stock 160,000Retained earnings 340,000Total stockholders’ equity$700,000 Stockholders’ Equity (December 31, 2014)Common stock—$5 par value, 50,000 sharesauthorized, 47,200 shares issued, 4,000 shares in treasury$236,000Paid-in capital in excess of par value, common stock 210,400Retained earnings ($40,000 restricted by treasury stock) 420,000866,400Less cost of treasury stock (40,000)Total stockholders’ equity$826,400The following transactions and events affected its equity during year 2014.Jan.5Declared a $0.50 per share cash dividend, date of record January 10.Mar.20Purchased treasury stock for cash.Apr.5Declared a $0.50 per share cash dividend, date of record April 10.July5Declared a $0.50 per share cash dividend, date of record July 10.July31Declared a 20% stock dividend when the stock’s market value is $12 per share.Aug.14Issued the stock dividend that was declared on July 31.Oct.5Declared a $0.50 per share cash dividend, date of record October 10.References