Guitar World Inc., sells guitars and reports the following balances at December 31, 2021:

Sales Revenue $300,000

Cash received from Guitar Sales $350,000

Bad Debt Expense $35,000

Allowance for Doubtful Accounts $20,000

Cost of Goods Sold $200,000

Cash Paid for Guitars $125,000

Sales Discounts $15,000

Accounts Receivable $50,000

What amount would be reported as Gross Profit?

a. $35,000

b. $160,000

c. $85,000

d. $100,000