Bellarus Inc. is a new business. The corporation issued 1,000 shares of common stock to the shareholders on January 1. Year 1. No additional shares of stock were issued. During its first year of business, Bellarus purchased 10,000 widgets from a supplier for $3 each. Bellarus paid $2,000 in shipping charges to have the widgets shipped to Bellarus. Bellarus sold all of the widgets in Year 1 for $5 each. Bellarus paid $3,000 to have the widgets shipped to the customers. Bellarus will report cost of goods sold equal to:

A. 35000 B. 50000 C. 51000 D. 32000 E. 30000