Pay-Fone Adjusts Profit Upward by $28,200
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Pay-Fone Systems Inc., a Van Nuys provider of automated payroll services, said it was adjusting upward its net income by $28,200 because of a recalculation of the company’s tax liability by its independent public accountants.
For its fiscal year ended June 30, Pay-Fone’s restated net income was $110,596 on sales of $5.19 million. This compared with a loss of $194,682 on sales of $5.25 million in 1991.
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