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Compute Nagy net income that would produce basic EPS

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Question - Nagy Industries reported a net income of $579,369 on December 31, 2018. At the beginning of the year, the company had 460,000 common shares outstanding. On April 1, the company sold 24,600 shares for cash. On August 31, the company issued 43,200 additional shares as part of a merger. On December 1, 2018, the company declared and issued a 10% stock dividend.

Required - Compute Nagy's net income that would produce a basic EPS of $1.80 per share for 2018.

Reference no: EM132653181

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