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Calculate the wildhorse net income

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Question - Wildhorse Corporation has outstanding at December 31, 2020, 45,000 shares of $18 par value, cumulative, 9% preferred stock and 197,500 shares of $6 par value common stock. All shares were outstanding the entire year. During 2020, Wildhorse earned total revenues of $2,040,000 and incurred total expenses (except income taxes) of $1,200,000. Wildhorse's income tax rate is 31%.

Required - Calculate the Wildhorse's 2020 net income.

Reference no: EM132228178

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