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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 property and equipment occurred. Interest income was $7,700.
Problem 1: How do you get the operating income. exclude the line starting with a 22,000 loss. Add in the data cash received from customers for services yet to be provided totaled $100,000
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amos company acquired land in exchange for 10000 shares ofits 10 par common stock. the fair market value of the land is
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