Question
Lant Company has provided the following information: Cash sales totaled $290,000. Credit sales totaled $489,000. Cash collections from customers for services yet to be provided
Lant Company has provided the following information: Cash sales totaled $290,000. Credit sales totaled $489,000. Cash collections from customers for services yet to be provided totaled $89,000. A $25,000 loss from the sale of property and equipment occurred. Interest income was $8,700. Interest expense was $18,900. Supplies expense was $390,000. Rent expense for the store was $39,000. Wages expense was $49,000. Other operating expenses totaled $79,000. Unearned revenue was $3,900. What is the amount of Lants income before income taxes?
Multiple Choice
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$275,800
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$186,800
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$389,000
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$197,000
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