On December 12, Cheung Company purchased 200 televisions for $280 each. By the end of the month, Cheung had sold 25 of these for $335 each. 18. What amount of sales should Cheung report on its income statement? a. $1,375 d. $8,375 $7,000 e. $49,000 $67,000 19. What amount of cost of goods sold should Cheung report on its income statement? a. $67,000 d. $7,000 $49,000 e. $1,375 $8,375 20. What amount of gross profit should Cheung report on its income statement? a. $7,000 d. $1,375 b. $67,000 e. $49,000 c. $8,375 21. What amount of merchandise inventory will Cheung report on its balance sheet after all of these transactions have been recorded? $49,000 C. $58,625 b. $56,000 d. $8,375