Paper Clip Company sells office supplies The following information summarizes the company's operating activities for the year Utilities for the store $10,000 Sales commissions 10,400 Sales revenue 164,700 Purchases of merchandise 89,800 January 1 inventory 27,000 Rent for store 14,200 December 31 inventory 23,500 What is gross profit

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Paper Clip Company sells office supplies. The following information summarizes the company's operating activities for the year: Utilities for the store $10,000 Sales commissions 10,400

Paper Clip Company sells office supplies. The following information summarizes the company's operating activities for the year:

Utilities for the store	$10,000
Sales commissions	10,400
Sales revenue	164,700
Purchases of merchandise	89,800
January 1 inventory	27,000
Rent for store	14,200
December 31 inventory	23,500

What is gross profit?

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