1. Sugarland Industries reported a net income of $750,750 on December 31, 2018. At the beginning of the year, the company had 500,000 common shares outstanding. On April 1, the company sold 27,000 shares for cash. On August 31, the company issued 48,000 additional shares as part of a merger. Required: ompute Sugarland's net income that would produce a basic EPS of $2.00 per share for 201: 2. Capital Consulting Company had 400,000 shares of common stock outstanding December 31, 2018. On that date, there were also 5,000 shares of $100 par, 6% noncumulative preferred stock outstanding. On March 1, 2018, the company's e mhor 15 2018 a preferred dividend was declared