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What is the amount of lant income from operations

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Reference no: EM132792432

Lant Company has provided the following information:

  • Cash sales totaled $220,000.
  • Credit sales totaled $482,000.
  • Cash collections from customers for services yet to be provided totaled $82,000.
  • A $18,000 loss from the sale of property and equipment occurred.
  • Interest income was $8,000.
  • Interest expense was $18,200.
  • Supplies expense was $290,000.
  • Rent expense for the store was $32,000.
  • Wages expense was $42,000.
  • Other operating expenses totaled $72,000.
  • Unearned revenue was $3,800.

Problem 1: What is the amount of Lant's income from operations (operating income)?

Reference no: EM132792432

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