Lantz Company Has Provided the Following Information: • Cash Sales

question 91

Multiple Choice

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 property and equipment occurred.
• Interest income was $7,700.
• Interest expense was $19,900.
• Supplies expense was $336,000.
• Rent expense for the store was $36,000.
• Wages expense was $49,000.
• Other operating expenses totaled $79,000.
• Unearned revenue was $4,000.

-
What is the amount of Lantz's operating revenues?

• A)$734,000.
• B)$822,000.
• C)$826,000.
• D)$833,700.

---

Definitions:

Repeated Game

A strategic situation where the same game is played multiple times, allowing for strategy development based on prior outcomes.

Payoff Matrix

A table that shows the potential outcomes and payoffs resulting from different decisions or strategies in game theory.

Dominant Strategy

In game theory, a strategy that is the best choice for a player, regardless of the strategies chosen by other players.

Simultaneous Strategy

A tactic in game theory where players make their moves or decisions at the same time without knowledge of the others' choices, influencing outcomes in competitive situations.