The equity sections from Sierra Group’s 2009 and 2010 year-end balance sheets follow....

The equity sections from Sierra Group’s 2009 and 2010 year-end balance sheets follow.

The following transactions and events affected its equity during year 2010.

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 is $10 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.

Required

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

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

3. What is the amount of the capitalization of retained earnings for the stock dividend?

4. What is the per share cost of the treasury stock purchased?

5. How much net income did the company earn during year 2010?