Question
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
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started