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On June 1, Royal Corp. began operating a service company with an initial cash investment by shareholders of $2,000,000. The company provided $6,400,000 of services in June and received full payment in July. Royal also incurred expenses of $3,000,000 in June that were paid in August. During June, Royal paid its shareholders cash dividends of $1,000,000. What was the company's income before income taxes for the two months ended July 31 under the following methods of accounting?
Traditional Dating
A conventional form of dating where couples meet face-to-face to get to know each other.
Contemporary Dating
Modern forms of finding romantic partners, often characterized by the use of technology, liberal attitudes towards relationships, and diverse dating practices.
Filter Theory
A theory that suggests individuals use a series of filters, such as socio-economic status or religion, to narrow down potential partners in the dating process.
Social Exchange Theory
A theoretical framework that posits social relationships are based on the exchange of resources, with the goal of maximizing benefits and minimizing costs.
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