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Abbey Co . sold merchandise to Gomez Co . on account, $ 2 6 , 5 0 0 , terms 2 / 1 5 ,

Abbey Co

.

sold merchandise to Gomez Co

.

on account, $

26, 500,

terms

2 / 15,

/ 45 .

The cost of the goods sold was $

15, 417 .

Abbey Co

.

issued a credit memo for $

3, 200

for merchandise returned that originally cost $

1, 048 .

What is the amount of gross profit earned by Abbey Co

.

on these transactions?

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