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What would ortiz report as total expenses

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Reference no: EM132837052

Ortiz Co. had the following account balances:

Sales revenue$ 220,000

Cost of goods sold110,000

Salaries and wages expense15,000

Depreciation expense30,000

Dividend revenue6,000

Utilities expense12,000

Rent revenue30,000

Interest expense18,000

Advertising expense19,500

Problem 1: What would Ortiz report as total expenses and costs (ignoring income taxes) in a single-step income statement?

a. $204,500.

b. $94,500.

c. $210,500.

d. $221,000.

Reference no: EM132837052

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