Question
Lant Company has provided the following information: Cash sales totaled $230,000. Credit sales totaled $483,000. Cash collections from customers for services yet to be provided
Lant Company has provided the following information: Cash sales totaled $230,000. Credit sales totaled $483,000. Cash collections from customers for services yet to be provided totaled $83,000. A $19,000 loss from the sale of property and equipment occurred. Interest income was $8,100. Interest expense was $18,300. Supplies expense was $300,000. Rent expense for the store was $33,000. Wages expense was $43,000. Other operating expenses totaled $73,000. Unearned revenue was $3,400. What is the amount of Lants income from operations (operating income)?
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