Bryant Company has obtained the following data about a possible planned investment:
Cost $270,000
Terminal salvage value in 8 years $10,000
Additional annual cash revenues for 8 years $250,000
Additional annual cash expenses for 8 years $200,000
Estimated useful life in years 8
The company uses straight-line depreciation method.
Required:
a. Compute the payback period.

On june 1, 2017, blossom company was started with an initial investment in the company of $22,360 cash. here are the assets, liabilities, and common stock of the company at june 30, 2017, and the revenues and expenses for the month of june, its first month of operations: cash $4,960 notes payable $12,720 accounts receivable 4,340 accounts payable 840 service revenue 7,860 supplies expense 1,100 supplies 2,300 maintenance and repairs expense 700 advertising expense 400 utilities expense 200 equipment 26,360 salaries and wages expense 1,760 common stock 22,360 in june, the company issued no additional stock but paid dividends of $1,660. prepare an income statement for the month of june.