The income statement for the month of june, 2015 of camera obscura enterprises contains the following information:
revenues $7,000 expenses:
salaries and wages expense $3,000
rent expense 1,500
advertising expense 800
supplies expense 300
insurance expense 100
total expenses 5,700
net income $1,300
at june 1, 2015, camera obscura reported retained earnings of $35,000.
the company had no dividends during june.
at june 30, 2015, the company will report retained earnings of