(Answered) Question - ringgold corporation has outstanding at december

Accounting

Question - Ringgold Corporation has outstanding at December 31, 2014, 45,420 shares of $18 par value, cumulative, 7% preferred stock and 204,400 shares of $7 par value common stock. All shares were outstanding the entire year. During 2014, Ringgold earned total revenues of $1,955,900 and incurred total expenses (except income taxes) of $1,129,400. Ringgold's income tax rate is 31%.

Calculate Ringgold's 2014 net income.

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