Netherland Company acquired a patent on 1 January 2011 for $1'12 500. This amount was to be amortized over 15 years with no residual value. In 2014, Netherland sued another company for infringement of its patent rights. Legal fees were $37 500, although no settlement was received. That year, Netherland sold the patent for $187 500. Assuming that no amortization expense was recognized in 2014, what amount would Netherland report in its 2014 statement of comprehensive income for gain on sale of patent?

a. $37 500

b. $60 000

c. $67 500

d. $107 500LO1.