A company reported the following: Cost of Goods Sold $201,600 General, Selling, and Administrative Expenses 52,960 Income Tax Expense 3,760 Inventory 31,000 Net Income 24,320 Sales Revenue 288,000 Sales Discounts 2,880 Sales Returns & Allowances 2,480 What is the amount of gross profit? Multiple Choice $77,650 $76,300 $90,000