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The income statement for the month of June, 2017 of Taylor Enterprises contains the following information:
Revenues £16,000
Expenses:
Salaries and Wages Expense £4,000
Rent Expense 3,000
Supplies Expense 600
Advertising Expense 400
Insurance Expense 200
Total expenses 8,200
Net income £7,800
Problem 1: At June 1, 2017, Taylor reported Retained Earnings of £70,000. The company paid no dividends during June. At June 30, 2017, the company will report Retained Earnings of
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Very likely to be strongly influenced by forces beyond the control of NT Inc. Hence, it must be carefully estimated for an accurate proforma income statement which is CRITICALLY dependent on this.... estimated cost of goods sold
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