M Studios (Calgary) Had Retail Sales of $166,425, Including GST

Multiple Choice

M Studios (Calgary) had retail sales of $166,425, including GST, for the last quarter. In the same period M Studios purchased $45,000 worth of supplies and paid $75,000 for store renovations, plus the GST on these goods and services. What GST must be remitted by M Studios (or refunded) for the last quarter? (Assume GST = 5%) .

A) $1925
B) $2321.25
C) $14,323.26
D) $6071.25
E) $4573.26