Assume a company provided the following information:

Earnings per share	$ 1.20
Number of common shares outstanding, beginning of the year	45,000
Number of common shares outstanding, end of the year	55,000
Price-earnings ratio	12.50
Dividend yield ratio	0.50

The net income is closest to:

Multiple Choice

$65,000.

$60,000.

$41,667.

$55,667.