Smith Corporation Has Provided the Following Information: Cash Sales Totaled

question 64

Multiple Choice

Smith Corporation has provided the following information: Cash sales totaled $125,000.
Credit sales totaled $279,000.
Cash collections from customers for services yet to be provided totaled $38,000.
An $11,000 gain from the sale of property and equipment occurred.
Interest income totaled $7,700.
How much of these items was included in operating income?

• A)$415,000.
• B)$411,700.
• C)$442,000.
• D)$460,700.

---

Definitions:

Material

Substances or components from which things can be made or constructed.

Coughing Up

The act of forcefully expelling substances from the throat or lungs through the mouth, often a symptom of respiratory conditions.

Trachea

The windpipe; a tube that connects the pharynx and larynx to the lungs, allowing the passage of air.

Correct Meaning

The accurate interpretation or definition of a word, phrase, or symbol in a particular context.