Colby Corporation Has Provided the Following Information: • Operating Revenues

question 82

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 total operating expenses?

• A)$111,000.
• B)$114,300.
• C)$116,000.
• D)$120,200.

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Definitions:

Retailers

Retailers are businesses or individuals that sell goods directly to consumers, acting as the final link between manufacturers and the consuming public.

Transportation

The action of moving goods or people from one place to another using vehicles, vessels, or other means.

Facilities

Physical buildings and structures that are used for the production of goods or delivery of services.

Accounts Receivable Turnover

A financial ratio indicating how quickly a company collects on the credit it extends to customers.