Lantz Company has provided the following information:
- Cash sales totaled 255,000
- Credit sales totaled 479,000
- Cash collections from customers for services yet to be provided totaled 88,000
. A 22,000 loss from the sale of property and equipment occurred.
- Interest income was 7,700
- Interest expense was 19,900
- Supplies expense was 336,000
- Rent expense for the store was 36,000
- Wages expense was 49,000
- Other operating expenses totaled 79,000
- Unearned revenue was 4,000
What is the amount of Lantz's income before income taxes?