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For Mortenson Company, the following information is available: Cost of goods sold $240,000 Sales discounts 8,000 Income tax expense 24,000 Operating expenses 92,000 Sales revenue

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For Mortenson Company, the following information is available: Cost of goods sold $240,000 Sales discounts 8,000 Income tax expense 24,000 Operating expenses 92,000 Sales revenue 400,000 In Mortenson's income statement, gross profit Select one: a. should not be reported O b. should be reported at $36,000. c. should be reported at $152,000. O d. should be reported at $160,000

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