Colby Corporation Has Provided the Following Information: • Operating Revenues

question 34

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 was $5,000.
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How much was Colby's net income?

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

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Definitions:

Serial Number

A unique identifier assigned to individual items, often used for tracking and inventory purposes.

Time

A constant progression in which events pass from the past through the present to the future.

Currency

A system of money in general use in a particular country or region for the exchange of goods and services.

Conditional Logic

A form of logic used in programming and mathematics that performs different actions or outcomes based on whether a specified condition is true or false.