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Lantz Company has provided the following information: Cash sales totaled $255,000. Credit sales totaled $479,000. Cash collections from customers for services yet to be provided

Lantz Company has provided the following information:

Cash sales totaled $255,000.

Credit sales totaled $479,000.

Cash collections from customers for services yet to be provided totaled $88,000.

A $22,000 loss from the sale of plant and equipment occurred.

Interest income was $7,700. Interest expense was $19,900.

Cost of goods sold was $336,000. Rent expense was $36,000.

Salaries expense was $49,000

. Other operating expenses totaled $79,000.

How much was Lantz's operating income?

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