Investors buy shares in Quietus LTD for $5million cash. On the first day of business of the companies operations, $3million is spent on assets and $4million is borrowed from the bank. By the end of the first month they have also bought $10million of goods for resale on credit and made sales of $25million on credit. At month end, the remaining inventory had a cost of $3million. What was the gross profit for the month?