Gym Stores purchases and sells dumb bells and has adopted the invoice basis to account for GST and Category A of the two-monthly taxable period. The following is a summary of invoiced transactions undertaken by Gym Stores for taxable period ending 31 March 2019:

Sales in New Zealand (GST inclusive)

$69,000

Export Sales (GST exclusive)

$34,500

Interest received from bank

$2,300

Rental income from residential property

$2,760

Purchases and expenses in relation to sales in New Zealand (GST exclusive)

$25,000

Purchases and expenses in relation to export sales (GST exclusive)

$15,000

Rental expenses on sales office(GST exclusive)

$7,000

The total amount of purchases and expenses to be included in the Goods and Services Tax Return (Form GST101A) is:

Select one:

a.$53,000

b.$54,050

c.$40,000

d.$47,000