15 Guitar World Inc., sells guitars and reports the following balances at December 31, 2021: Sales Revenue Cash received from Guitar Sales Bad Debt Expense Allowance for Doubtful Accounts Cost of Goods Sold Cash Paid for Guitars Sales Discounts Accounts Receivable What amount would be reported as Gross Profit? a. $160,000 b. $35,000 C. $100,000 d. $85,000 $300,000 $350,000 $35,000 $20,000 $200,000 $125,000 $15,000 $50,000