Nagy Industries reported a net income of $709,369 on December 31, 2018. At the beginning of the year, the company had 590,000 common shares outstanding. On April 1, the company sold 32,400 shares for cash. On August 31, the company issued 58,800 additional shares as part of a merger. On December 1, 2018, the company declared and issued a 10% stock dividend. Required: Compute Nagy's net income that would produce a basic EPS of $2.45 per share for 2018. (Round your answer to the nearest whole dollar.)