Question 37 2 points Save Answer Selected accounts of Marshall Company engaged in merchandising business is shown below (all amounts are already adjusted, except inventory): Merchandise Inventory 500,000 Sales 2,607,000 Sales Discounts 80,000 Sales Returns & Allowances 29,000 Purchases 1,800,000 Purchase Discounts 16,000 Purchase Returns & Allowances 6,000 Store Salaries Expense 295,000 Office Salaries Expense 150,000 Freight Out 83,000 Marketing Expense 40,000 Office Supplies Expense 37,000 Office Rent Expense 50,000 Depreciation Expense 25,000 Interest Expense 8,000 Additional information: The company employs the periodic inventory system. Physical count at year-end reveals inventory balance of P410,000. Depreciation expense pertains to office equipment (Property, Plant and Equipment). What is the gross profit? Give your answer in this format XXX,XXX