Question - Alpha Corporation has one class of common stock with a par value of $5. There is not treasury stock balance as of January 1, 2017. On January 1, 2017 Alpha had a $75,000 balance on its Common Stock account. On January 1, 2017 Alpha issued an additional 2,500 shares of common stock for $14,400. There is not class of preferred stock outstanding during FY 2017, Use this information to determine the Net Income or (Net loss) for Alpha if it reports an earnings per share of $4.80.
Please Show Calculations.