How much is the gross profit 

 

Debit Credit Cash $4,000 Accounts Receivable 15.000 Inventory 17,000 Supplies 4,000 Land 120,000 Accounts Payable $5,000 Notes Payable 23,000 Common Stock 75,000 Retained Earnings 11,000 Dividends 3.000 Sales Revenue 180,000 Sales Discounts Forfeited 5,000 Cost of Goods Sold 82,000 Delivery Expense 3,000 Salaries Expense 8,000 Utilities Expense 24,000 Rent Expense 15,000 Interest Expense 4,000 Totals $299,000 $299,000