Gerald's department store is a merchandising company that uses the periodic inventory system. Selected account balances are listed below: 
Sales .................................................$175,000 
Purchases ...........................................90,000 
Inventory (Beginning) ........................23,000 
Inventory (Ending) .............................17,000 
Purchase returns and allowances ....3,000 
Purchase discounts ...........................7,000 
Transportation-in ...............................4,000 
Sales discounts ...................................8,000 
Sales returns and allowances ...........5,000 
Gerald's gross profit is:

a). $68,000 
b). $72,000 
c). $78,000 
d). $85,000 
e). Not determinable from the information given rn