Colby Corporation Has Provided the Following Information: Operating Revenues Were

question 79

Multiple Choice

Colby Corporation has provided the following information: Operating revenues were $199,700.
Operating expenses were $111,000.
Interest expense was $9,200.
Gain from sale of plant and equipment was $3,300.
Dividend payments to Colby's stockholders were $7,700.
Income tax expense was $36,000.
Prepaid rent expense was $5,000.
How much was Colby's net income?

• A) $39,100.
• B) $48,300.
• C)$52,700.
• D)$46,800.

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Definitions:

Superior Colliculus

A structure in the midbrain involved in visual processing, eye movements, and orientation responses.

Orienting Responses

The body's automatic reaction to stimulus, involving attention and physiological adjustments to better sense the stimulus.

Circadian Rhythms

Biological cycles that occur on a roughly 24-hour schedule, regulating various physiological processes including sleep, alertness, and hormone production.

Lateral Geniculate Cell

A type of neuron in the thalamus that plays a critical role in processing and carrying visual information to the visual cortex.