Coughlin Corporation has 10,000 shares authorized and issued of 7%, $60 par preferred stock. What is net income during a year when beginning common stockholders' equity is $6,950,000 and ending common stockholders' equity is $7,240,000 if the return on common stockholders' equity is 16%? O $1,177,200 O $1,135,200 O $1,093,200 O $1,112,000