Ringgold Corporation has outstanding at December 31, 2017, 45,000 shares of $20 par value, cumulative, 9% preferred stock and 197,000 shares of $4 par value common stock. All shares were outstanding the entire year. During 2017, Ringgold earned total revenues of $1,990,000 and incurred total expenses (except income taxes) of $1,140,000. Ringgolds income tax rate is 32%.

Calculate Ringgolds 2017 net income.

Compute Ringgolds 2017 earnings per share