Colby Corporation Has Provided the Following Information: • Operating Revenues

question 79

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 operating income (income from operations) ?

• A)$81,000.
• B)$83,700.
• C)$88,700.
• D)$92,000.

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Definitions:

Situational Leadership Model II

A leadership approach that suggests leaders should adapt their style to the development level of the individuals they are leading, based on their competence and commitment.

Development Level

The current stage of growth or advancement in an individual's skills, knowledge, or experience.

Commitment

Commitment pertains to the state of being dedicated to a cause, activity, or job, showing a willingness to give time and energy to something believed in.

Competence

The ability to do something successfully or efficiently, often referring to a specific skill set or knowledge.