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Calculate Oriole net income

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Question - Oriole Corporation has outstanding at December 31, 2020, 50,000 shares of $22 par value, cumulative, 8% preferred stock and 202,000 shares of $4 par value common stock. All shares were outstanding the entire year. During 2020, Oriole earned total revenues of $1,990,000 and incurred total expenses (except income taxes) of $1,150,000. Oriole's income tax rate is 31%. Calculate Oriole's 2020 net income.

Reference no: EM132610365

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