The equity sections from Quality First Group's 2016 and 2017 year-end balance sheets follow. 5 nts Stockholders' Equity (December 31, 2016) Common stock-$12 par value, 140,000 shares authorized, 60,000 shares issued and outstanding Paid-in capital in excess of par value, common stock Retained earnings Total stockholders' equity $ 720,000 108,000 590,000 $1,418,000 eBook Print eferences Stockholders' Equity (December 31, 2017) Common stock-$12 par value, 140,000 shares authorized, 68,800 shares issued, 5,000 shares in treasury Paid-in capital in excess of par value, common stock Retained earnings ($120,000 restricted by treasury stock) $ 825,600 231,200 1,060,000 2,116,800 (120.000) $ 1,996,800 Less cost of treasury stock Total stockholders' equity The following transactions and events affected its equity during year 2017 Jan. 5 Declared a $1.00 per share cash dividend, payable on January 10. Mar. 20 Purchased treasury stock for cash. Apr. 5 Declared a $1.00 per share cash dividend, payable on April 10. July 5 Declared a $1.00 per share cash dividend, payable on July 10. July 31 Declared a 16% stock dividend when the stock's market value was $26 per share. Aug. 14 Issued the stock dividend that was declared on July 31. raw 1 of 8 Next >