A company reported the following: Cost of Goods Sold General, Selling, and Administrative Expenses Income Tax Expense Inventory Net Income Sales Revenue Sales Discounts Sales Returns & Allowances $240,000 5,000 10,950 30,000 32,150 295,000 4,000 2,900 What is the amount of gross profit? Multiple Choice O $55,000 $48,100 $37,150 $43,100 O