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Calculate gross profit for Jonas Co. based on the data given below: Sales $764,000 Selling Expenses 52,500 Cost of Merchandise Sold 538,000 Sales Discounts 7,100

Calculate gross profit for Jonas Co. based on the data given below:

Sales $764,000

Selling Expenses 52,500

Cost of Merchandise Sold 538,000

Sales Discounts 7,100

Sales Returns and Allowances 3,650

A.

$753,250

B.

162,750

C.

215,250

D.

700,250

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