1. Given below is a list of accounts for The Grind caf for the quarter ended March 2021. Note: the list of accounts and amounts are the same for Questions 16, 17 and 18.

	$
Sales revenue	160,000
Cost of goods sold	95,000
Salaries expense	6,000
Advertising expense	2,500
Supplies expense	1,500
Rent expense	3,000
Depreciation expense	2,000
Interest revenue	150
Interest expense	650
Tax expense	9,900

The operating profit or EBIT figure is:

a.

$65,000

b.

$50,000

c.

$39,600

d.

$65,150