Abbey Co. sold merchandise to Gomez Co. on account, $70,000, terms n/45. The cost of the goods sold was $49,000. Abbey Co. issued a credit memo to Gomez Co. for $7,200 for merchandise returned that originally cost $3,400. Gomez Co. paid the invoice within the credit period. What amount of gross profit is earned by Abbey Co. on these transactions? fill in the blank 1 of 1$