Beginning stockholders' equity was $140,280. Ending stockholders' equity was $204,650. Additional issuances of capital stock during the year amounted to $23,100. Dividends during the year amounted to $17,500. How much was net income for the year?

Storico co. just paid a dividend of $3.15 per share. the company will increase its dividend by 20 percent next year and then reduce its dividend growth rate by 5 percentage points per year until it reaches the industry average of 5 percent dividend growth, after which the company will keep a constant growth rate forever. if the required return on the company’s stock is 12 percent, what will a share of stock sell for today?