Lantz Company Has Provided the Following Information

question 81

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 plant and equipment occurred.
Interest income was $7,700.
Interest expense was $19,900.
Cost of goods sold was $336,000.
Rent expense was $36,000.
Salaries expense was $49,000.
Other operating expenses totaled $79,000.
How much was Lantz's operating income?

• A)$221,800
• B)$322,000
• C)$199,800
• D)$234,000

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Definitions:

Political Patterns

The recurring trends and behaviors observed within the political arena, including voting habits, party dominance, and policy preferences.

Religious Minorities

Groups within a society that practice a religion different from the majority population, often with less influence or representation.

Money or Gifts

Refers to financial or material items given without the expectation of payment or return, often as a gesture of goodwill or support.

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The process of selecting specific words to convey a message effectively, considering factors like audience, context, and purpose.