A firm is a merchandiser of stone ornaments. It sold 15,000 units during the year. The company has provided the following information: Sales Revenue $525,000 Purchases (excluding Freight in) 347,000 Selling and Administrative Expenses 36,500 Freight in 15,500 Beginning Merchandise Inventory 42,000 Ending Merchandise Inventory 55,500 How much is the gross profit for the year