Waldo Company, a maker of medical devices, has provided the…
Waldo Company, a maker of medical devices, has provided the following information: 1. Cash sales totaled $255,000. 2. Credit sales (on account) totaled $479,000. Of this, $90,000 remains uncollected at the end of the period. 3. Cash collections from customers for services yet to be provided totaled $88,000. 4. A $22,000 loss from the sale of property and equipment occurred. 5. Interest revenue was $7,700. 6. Cost of goods sold was $336,000. 7. Rent expense was $36,000. 8. Salaries expense was $49,000. Of this, $4,000 remains unpaid as of the end of the period. 9. Other operating expenses totaled $79,000. 10. Interest expense was $19,900. Ignoring taxes, how much was Waldo’s net income? *Enter your answer without a comma, without a decimal point, and without a dollar sign. For example, if you believe that the answer is $100,500, you should enter 100500 into the answer box.*