Colby Corporation Has Provided the Following Information: • Operating Revenues

question 106

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.
How much was Colby's net income?

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

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Definitions:

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