Colby Corporation Has Provided the Following Information

question 21

Multiple Choice

Colby Corporation has provided the following information:
Operating revenues were $199,700.
Operating expenses 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.
How much was Colby's net income?

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

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Definitions:

Components

Individual parts or elements that make up a larger whole, system, or assembly.

Environmental Factors

External elements such as climate, geography, social conditions, and culture that can affect individuals' behaviors, development, and survival.

Group Processes

The dynamic interactions and mechanisms that occur within a group, influencing its structure, decision-making, and member behavior.

Ideal Space

An optimal physical or psychological environment tailored to the specific needs or preferences of individuals or groups.