Richmond Company had the following information extracted from its adjusted trial balance for the year 2021: - Sales: $200,000 ; - Sales discount: $4,000; - Opening inventory: $10,000; - Purchases: $140,000. A physical count of merchandise on hand at the end of the year shows $20,000. Calculate the gross margin that would appear on the income statement.

Options for Question 35:

None of the above

74 000

70 000

62 000

66 000