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On June 1, Langhe, Corp began operating a tax service company with an initial cash investment by shareholders of $4.030,000. The company provided $7,000,000 of

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On June 1, Langhe, Corp began operating a tax service company with an initial cash investment by shareholders of $4.030,000. The company provided $7,000,000 of services in June and received full payment in July. Langhe also incurred expenses of $2129,000 in June that were paid in August. During June, Langhe paldits shareholders cash dividends of $589,000. What was the company's income before income taxes for the two months ended July 31 under the following methods of accounting a. b. Cash Basis $4,871,000 $8,901,000 $7,000,000 $7,000,000 Accrual Basis $4,871,000 $4,282,000 $4,871,000 $4,282,000 d

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