A retail company sells 100 units of Item A for $199.99 each; these items cost the company $69.95 per item to buy. The company also sells 1,000 units of Item B for $49.99 each; these items cost the company $24.99 to buy. Other operating expenses total $10,000. Which of the following statements is true?

Multiple Choice

• The gross profit percentage for Item A is higher than the gross profit percentage for Item B.

• The company's gross profit is $28,004.

• Cost of goods is $69,989

• Net income is $38,004.