Business, 11.02.2021 21:30, datboyjulio21

Lantz Company has provided the following information: Cash sales totaled $280,000.
Credit sales totaled $488,000.
Cash collections from customers for services yet to be provided totaled $88,000.

A $24,000 loss from the sale of property and equipment occurred.
Interest income was $8,600.
Interest expense was $18,800.
Supplies expense was $350,000.
Rent expense for the store was $38,000.
Wages expense was $48,000.
Other operating expenses totaled $78,000.
Unearned revenue was $3,300.

Required:
How much was Lantz's income before income taxes?

Answers: 2

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Lantz Company has provided the following information: Cash sales totaled $280,000.
Credit sa...