On June 1, Royal Corp. began operating a service company with an initial cash investment...
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On June 1, Royal Corp. began operating a service company with an initial cash investment by shareholders of $3,000,000. The company provided $7,300,000 of services in June and received full payment in July. Royal also incurred expenses of $2,387,000 in June that were paid in August. During June, Royal paid its shareholders cash dividends of $523,000. What was the company's income before income taxes for the two months ended July 31 under the following methods of accounting?
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