Question 2 (3 points) Matthews Company Adjusted Trial Balance December 31, 2017 DEBIT CREDIT Cash Accounts Receivable Allowance for Doubtful Accounts Short term Note Receivable Interest Receivable 8,000 4,005 340 500 100 Supplies 80 Inventory 2,000 Prepaid Expenses 150 Equipment 4,000 Accumulated Depreciation 1,800 Copyrights 400 Accounts Payable 450 Interest Payable 15 Unearned Revenue 150 Long Term Note Payable 1,200 Common Stock 5,300 Paid-in-Capital In Excess of Par-CS 700 Retained Earnings (1/1/17) 3,000 Dividends 2,500 Sales 41,830 Sales Returns & Allowances 30 Sales Discounts 75 Cost of Goods Sold 24,500 Bad debt expense 80 Depreciation Expense 150 Amortization Expense 90 Wages Expense Rent Expense 4,550 1,700 Office Expense 800 Supplies Expense Selling Expense Interest Expense 250 580 100 Interest Revenue Income Tax Expense Totals 335 480 55,120 55,120 What is Gross Profit for the period ending December 31, 2017? A