National Retail Stores has identified the following data from its accounting records for the year ended December 31: Sales, \($1,100,000;\) purchases, \($650,000;\) and general and administrative expenses, \($275,000.\) It had an opening inventory of \($150,000\) and a closing inventory of \($200,000.\) Based on this information, the gross profit and operating profit/loss is

a. A gross profit of \($450,000\) and an operating profit of $185,000

b. A gross profit of \($500,000\) and an operating profit of $225,000

c. A gross profit of \($400,000\) and an operating profit of $125,000

d. A gross profit of \($500,000\) and an operating loss of $185,000