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Lant Company has provided the following information: Cash sales totaled $340,000. Credit sales totaled $494,000. Cash collections from customers for services yet to be provided

Lant Company has provided the following information: Cash sales totaled $340,000. Credit sales totaled $494,000. Cash collections from customers for services yet to be provided totaled $94,000. A $30,000 loss from the sale of property and equipment occurred. Interest income was $9,200. Interest expense was $19,400. Supplies expense was $440,000. Rent expense for the store was $33,000. Wages expense was $54,000. Other operating expenses totaled $84,000. Unearned revenue was $4,100. What is the amount of Lants income before income taxes?

rev: 02_04_2021_QC_CS-250405

Multiple Choice

  • $394,000

  • $182,800

  • $276,800

  • $193,000

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