What the company will report retained earnings of

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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

Reference no: EM132938231

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