Smith Corporation has provided the following information: Cash sales totaled $125,000.
Credit sales totaled $279,000.
Cash collections from customers for services yet to be provided totaled $38,000.
An $11,000 gain from the sale of property and equipment occurred.
Interest income totaled $7,700.
How much of these items was included in operating income?
A)$415,000.
B)$411,700.
C)$442,000.
D)$460,700.

Question

Quizplus · Accepted Answer

The Answer of Smith Corporation has provided the following information: Cash sales totaled $125,000.
Credit sales totaled $279,000.
Cash collections from customers for services yet to be provided totaled $38,000.
An $11,000 gain from the sale of property and equipment occurred.
Interest income totaled $7,700.
How much of these items was included in operating income?
A)$415,000.
B)$411,700.
C)$442,000.
D)$460,700.

Smith Corporation Has Provided the Following Information: Cash Sales Totaled