The following information is provided for Kelly Plumbing Supply.

Cash received from customers includes November accounts receivables of \($139,000\). Sales totaling \($141,000\) were made on account during December and are expected to be collected in January 2009. Cash paid to suppliers in December included payments of \($19,000\) for inventory purchased and used in November. All inventory purchased in December and \($39,000\) of inventory purchased in November was used in December.
Required:
What is gross profit for the month of December under accrual accounting?

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Cash received from customers during December 2008 Cash paid to suppliers for inventory during December 2008 $387,000 131,000