Stanley Department Stores reported net income of $731,000 for the year ended December 31, 2021. Additional Information:

Common shares outstanding at Jan. 1, 2021	60,000
Incentive stock options (vested in 2020) outstanding throughout 2021	12,000
(Each option is exercisable for one common share at an exercise price of $20.50)
During the year, the market price of Stanleys common stock averaged $24.60 per share.
On Aug. 30, Stanley sold 15,000 common shares.
Stanleys only debt consisted of $31,000 of 10% short-term bank notes.
The companys income tax rate is 25%.