A clothing store brought 10 men's suits at $300 each, for a total cost of $3,000(10$300=$3000). The store sells all of the suits at $550 each, for a total of $5,500(10$550=$5,500). Operating expenses assigned to the transaction total $750. The firm bought the suits using trade credit (interest free) so there was a liability of $3,000 incurred for 30 days. What is the store's net profit or loss for these 10 suits? $5.500 profit $2,500 profit $1,750 profit 51,250 loss