ABC Company is a merchandising company and it uses a perpetual inventory system. Following is the list of some of the account balances that the accounting records of ABC Company show at December 31, 2020:

Sales

$90,000

Salaries expense

$4,000

Sales returns & allowances

$3,000

Cost of goods sold

$33,000

Sales discounts

$2,000

Utilities expense

$1,000

Income tax expense

$500

Based on the above figures, what is gross profit?