7. Western Co. sold merchandise to Sunset Co. on account, $47,000, terms 3/15, net 45. The cost of the goods sold was $32,900. Western Co. issued a credit memo for $4,100 for merchandise returned that originally cost $2,870. Sunset Co. paid the invoice within the discount period. Assuming the net method, what is the amount of gross profit earned by Western Co. on the above transactions? a. $11,583 b. $41,613 c. $8,108 d. S42,900