Nagy Industries reported a net income of $719,369 on December 31, 2021. At the beginning of the year, the company had 600,000 common shares outstanding. On April 1, the company sold 33,000 shares for cash. On August 31, the company issued 60,000 additional shares as part of a merger. On December 1, 2021, the company declared and issued a 12% stock dividend. Required:
Compute Nagy's net income that would produce a basic EPS of $2.00 per share for 2021.

Reynolds corp. factors $400,000 of accounts receivable with mateer finance corporation on a without recourse basis on july 1, 2015. the receivables records are transferred to mateer finance, which will receive the collections. mateer finance assesses a finance charge of 1 ½ percent of the amount of accounts receivable and retains an amount equal to 4% of accounts receivable to cover sales discounts, returns, and allowances. the transaction is to be recorded as a sale.required: a. prepare the journal entry on july 1, 2015, for reynolds corp. to record the sale of receivables without recourse.b. prepare the journal entry on july 1, 2015, for mateer finance corporation to record the purchase of receivables without recourse— think through this.c. explain the difference between sale of receivables with recourse as oppose to without recourse.