Nagy Industries reported a net income of $569,369 on December 31, 2018. At the beginning of the year, the company had 450,000 common shares outstanding. On April 1, the company sold 24,000 shares for cash. On August 31, the company issued 42,000 additional shares as part of a merger. On December 1, 2018, the company declared and issued a 8% stock dividend. Required: Compute Nagy's net income that would produce a basic EPS of $1.75 per share for 2018. (Round your answer to the nearest whole dollar.)