Problem 13-2A: Cash dividends, treasury stock, and statement of retained earnings L.O. C3, P2, P3
[The following information applies to the questions displayed below.]

Context Corporation reports the following components of stockholders’ equity on December 31, 2011.


Common stock—$10 par value, 50,000 shares authorized, 20,000 shares issued and outstanding
$ 200,000
Paid-in capital in excess of par value, common stock 30,000
Retained earnings 135,000

Total stockholders' equity $ 365,000


In year 2012, the following transactions affected its stockholders’ equity accounts.
Jan. 1 Purchased 2,000 shares of its own stock at $20 cash per share.
Jan. 5
Directors declared a $2 per share cash dividend payable on Feb. 28 to the Feb. 5 stockholders of record.
Feb. 28 Paid the dividend declared on January 5.
July 6 Sold 750 of its treasury shares at $24 cash per share.
Aug. 22 Sold 1,250 of its treasury shares at $17 cash per share.
Sept. 5
Directors declared a $2 per share cash dividend payable on October 28 to the September 25 stockholders of record.
Oct. 28 Paid the dividend declared on September 5.
Dec. 31
Closed the $194,000 credit balance (from net income) in the Income Summary account to Retained Earnings.


I need to know the cash dividens declared.


CONTEXT CORPORATION
Statement of Retained Earnings
For Year Ended December 31, 2012
Retained earnings, Dec. 31, 2011 $ 135000

Retained earnings, Dec. 31, 2012 $ 194000 = 329000
less cash dividends declaired $?
less treasury stock reissuances $?

retained earnings 2012 $ 252250