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How much of the items were included in operating income

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Reference no: EM132843941

Smith Corporation has provided the following information:

  1. Cash sales totaled $125,000.
  2. Credit sales totaled $279,000.
  3. Cash collections from customers for services yet to be provided totaled $38,000.
  4. An $11,000 gain from the sale of property and equipment occurred.
  5. Interest income totaled $7,700.

Problem 1: How much of these items were included in operating income?

Option 1: $415,000.
Option 2: $411,700.
Option 3: $442,000.
Option 4: $460,700.

Reference no: EM132843941

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