27 Sugarland Industries reported a net income of $780,750 on December 31, 2021. At the beginning of the year, the company had 530,000 common shares outstanding. On April 1, the company sold 28,800 shares for cash. On August 31, the company issued 51,600 additional shares as part of a merger. Required: Compute Sugarland's net income that would produce a basic EPS of $2.15 per share for 2021. Net income