Lydia buys and sells ladies' handbags for cash. She buys them for 20 each and sells them for 35 each. During March, her first month of trading, she bought 50 handbags and had 10 handbags remaining in inventory at the month end. Ignoring any other expenses or payments, which of the following statements is true for March?

a)The business made a gross profit for the month of 600 and its bank balance increased by 600 as a result of trading.

b)The business made a gross profit for the month of 400 and its bank balance increased by 400 as a result of trading.

c)The business made a gross profit for the month of 400 and its bank balance increased by 600 as a result of trading.

d)The business made a gross profit for the month of 600 and its bank balance increased by 400 as a result of trading.