1. Abbey Co. sold merchandise to Gomez Co. on account, $33,300, terms 2/15, net 45. The cost of the goods sold was $14,121. Abbey Co. issued a credit memo for $4,000 for merchandise returned that originally cost $1,175. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions?

   a.$19,688

   b.$15,768

   c.$12,946

   d.$4,000