Reference no: EM132843945

Lantz Company has provided the following information:

1. Cash sales totaled $255,000.
2. Credit sales totaled $479,000.
3. Cash collections from customers for services yet to be provided totaled $88,000.
4. A $22,000 loss from the sale of property and equipment occurred.
5. Interest income was $7,700.
6. Interest expense was $19,900.
7. Supplies expense was $336,000.
8. Rent expense for the store was $36,000.
9. Wages expense was $49,000.
10. Other operating expenses totaled $79,000.
11. Unearned revenue was $4,000.

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

Option 1: $221,800.
Option 2: $212,000.
Option 3: $199,800.
Option 4: $234,000.