Financial information is presented below: Operating expenses $ 50000 Sales revenue 214000 Cost of goods sold 157000 Gross profit would be $164000 $ 50000. $ 57000 $ 7000. If Kingbird, Inc. has net sales of $375000 and cost of goods sold of $305000, Kingbird's gross profit rate is 81% 23% 19%. 100% Metlock's Market recorded the following events involving a recent purchase of inventory: Received goods for $78200, terms 2/9,n/30. Returned $1700 of the shipment for credit. Paid $700 freight on the shipment. Paid the invoice within the discount period. As a result of these events, the company's inventory increased by $74970. increased by $77200. increased by $75656. increased by $75670