For Mortenson Company, the following information is available:

Cost of goods sold	$ 130,000
Dividend revenue	5,000
Income tax expense	12,000
Operating expenses	46,000
Sales revenue	200,000

In Mortenson's multiple-step income statement, gross profit:

a) should not be reported

b) should be reported at $75,000.

c) should be reported at $17,000.

d) should be reported at $70,000.