Lantz Company has provided the following information: Cash sales totaled $370,000. Credit sales totaled $497,000. Cash collections from customers for services yet to be provided totaled $97,000 A $22,000 loss from the sale of property and equipment occurred. Interest income was $9,500 Interest expense was $19,700. Supplies expense was $440,000 Rent expense for the store was $36,000 Wages expense was $57,000. Other operating expenses totaled $87,000 Unearned revenue was $4,100 What is the amount of Lantz's income from operations (operating income)? O a. $225,000 b. $314.000 c. $184,800 d. $206,800

Identify and describe a variety of performance rating scales that can be used in organizations including graphical scales, letter scales, and numeric scales.

Richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar.spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements.cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery.rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer.gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life.esquire company provides financial statements to external users every three years.