Lant Company has provided the following information: Cash sales totaled $200,000. Credit sales totaled $480,000. Cash collections from customers for services yet to be provided totaled $80,000. A $16,000 loss from the sale of property and equipment occurred. Interest income was $7,800. Interest expense was $18,000. Supplies expense was $300,000. Rent expense for the store was $30,000. Wages expense was $40,000. Other operating expenses totaled $70,000. Unearned revenue was $3,500. What is the amount of Lants income before income taxes?

Multiple Choice

• $224,000

• $380,000

• $293,800

• $213,800