Ringgold Corporation has outstanding at December 31, 2014, 46,980 shares of $19 par value, cumulative, 8% preferred stock and 197,400 shares of $5 par value common stock. All shares were outstanding the entire year. During 2014, Ringgold earned total revenues of $2,004,800 and incurred total expenses (except income taxes) of $1,165,700. Ringgolds income tax rate is 31%. Collapse question part (a1) Incorrect answer. Your answer is incorrect. Try again. Calculate Ringgolds 2014 net income. Net Income $Entry field with incorrect answer 507,569 LINK TO TEXT