Colby Corporation Has Provided the Following Information: • Operating Revenues

question 60

Multiple Choice

Colby Corporation has provided the following information: • Operating revenues from customers were $199,700.
• Operating expenses for the store 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.
What is the amount of Colby's operating revenues?

• A)$88,000.
• B)$91,300.
• C)$199,700.
• D)$203,000.

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Definitions:

Exports

Items or services that are manufactured in one nation and purchased by consumers in a different country.

Imports

Goods or services brought into a country from abroad for sale or use.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay, representing a measure of consumer benefit.

Tariff

A tax imposed by a government on goods and services imported from other countries, used to control trade.