Compute the amount of sales revenue, insurance expense, and other operating expenses to report on…

(Learning Objective 3: Measuring financial statement amounts) The adjusted trial balances of Triumph Corporation at March 31, 2008, and March 31, 2007, include these amounts (in millions):

2008

2007

Receivables

$300

$200

Prepaid insurance

180

110

Accrued liabilities payable (for other operating expenses)

700

600

Triumph completed these transactions during the year ended March 31, 2008.

Collections from customers

$20,800

Payment of prepaid insurance

400

Cash payments for other operating expenses

4,100

Compute the amount of sales revenue, insurance expense, and other operating expenses to report on the income statement for the year ended March 31, 2008.

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