4,000 Adjusted Trial Balance December 31 Cash $ 9,000 Accounts receivable 500 Merchandis inventory 10,500 Equipment 10,000 Accumulated depreciation - equipment Accounts payable Common stock Retained earnings Dividends 5,000 Net Sales Utilities expense 3,500 Depreciation expense - 2,000 equipment Rent expense 6,000 Wages expense 21,000 Cost of goods sold 26,500 1,000 10,000 7,000 72,000 Totals $94.000 $94.000 What amount will appear as Gross profit on the income statement