An employee at a retail store was found to have been stealing cash from the register over the past six months. The amount stolen each day varied between $20 and $80, with an average of $50 per day. The employee worked five days a week during this period. The store's manager estimated that the employee stole a total of $3,000 during the six-month period. If the store's profit margin is 30%, what is the impact of the employee's theft on the store's reported net income during the period?

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The detailed answer for the above question is provided below To calculate the impact of the employees theft on the stores net income during the sixmonth period we need to determine the total amount stolen and the corresponding reduction in net income a Total amount stolen The employee ... View the full answer