Reference no: EM132843949

Colby Corporation has provided the following information:

1. Operating revenues from customers were $199,700.
2. Operating expenses for the store were $111,000.
3. Interest expense was $9,200.
4. Gain from sale of plant and equipment was $3,300.
5. Dividend payments to Colby's stockholders were $7,700.
6. Income tax expense was $36,000.
7. Prepaid rent expense was $5,000.

Problem 1: What is the amount of Colby's total operating expenses?

Option 1: $111,000.
Option 2: $114,300.
Option 3: $116,000.
Option 4: $120,200.