A Company Reported the Following What Is the Amount of Gross Profit?
A)$75,360
B)$78,960
C)$84,000

Multiple Choice

A company reported the following: $\begin{array}{lr}\text { Cost of Goods Sold } & \$ 200,000 \\\text { General, Selling, and Administrative Expenses } & 52,800 \\\text { Income Tax Expense } & 3,600 \\\text { Inventory } & 12,000 \\\text { Net Income } & 22,560 \\\text { Sales Revenue } & 284,000 \\\text { Sales Discounts } & 2,720\\\text { Sales Returns \& Allowances }&2,320\end{array}$ What is the amount of gross profit?

A) $75,360
B) $78,960
C) $84,000
D) $26,160