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Calculate ringgolds net income

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Question - Ringgold Corporation has outstanding at December 31, 2014, 48,020 shares of $18 par value, cumulative, 9% preferred stock and 201,100 shares of $6 par value common stock. All shares were outstanding the entire year. During 2014, Ringgold earned total revenues of $2,010,100 and incurred total expenses (except income taxes) of $1,195,100. Ringgold's income tax rate is 31%.

Calculate Ringgold's 2014 net income.

Reference no: EM132032709

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