During the Year, Grasso Ltd Sold 2000 Items at $30

Multiple Choice

During the year, Grasso Ltd sold 2000 items at $30 each. The cost price of the items was $22 each. Operating expenses totalled $7 000 and income tax expense was $5 000. What was the gross profit of Grasso Ltd for the year?

A) $9 000
B) $16 000
C) $49 000
D) None of the above