Jessica owns a retail shoe business and had gross receipts from her Form 1099-K of $250,000. She had a Cost of Goods Sold (COGS) figure of $89,000 and incurred other expenses totaling $24,000. Jessica also acquired shoes for her family from her vendor in the amount of $650. What is the amount of gross income to be reported on Line 7 of Jessicas Schedule C?

a) $137,650

b) $161,650

c) $250,000`

d) $161,000