Answers
Calculation of Cash Dividend
| Date | Common Stock Dividend |
| Jan 5 | (30000*$0.50)= $15000 |
| Apr 5 | (30000-4000)*$0.50= 13000 |
| July 5 | (26000*$0.50)= 13000 |
| Oct 5 | (26000*1.20*$0.50)= 15600 |
| Total cash dividend | $56600 |
Calculation of Stock Dividend
Stock dividend= (30000-4000)*20%*$12= $62400
Calculation of Net Income
Ending Retained earnings= Beginning Retained earnings+Net income-Cash dividend-Stock dividend
420000= $360000+Net income-56600-62400
$420000-360000+56600+62400= Net income
Net income= $179000
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