A Company uses a perpetual inventory system. The following transactions have been selected for analysis:

a. Sold merchandise for cash (cost of merchandise $158,710). $308,210

b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $900). $1,700

c. Sold merchandise (costing $12,150) to a customer on account with terms n/30. $25,121

d. Collected half of the balance owed by the customer in (c). $13,500

e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. $1,940

What is the gross profit for the company?