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SHEMA Inc. purchases and resells cellular phones. On November 1, 2022, the company purchased 5,000 phones for $100 each. On November 22, the company sells

SHEMA Inc. purchases and resells cellular phones. On November 1, 2022, the company purchased 5,000 phones for $100 each. On November 22, the company sells 1,250 units for $150 each. What is the net income or loss on the sale? Select one: a. Cannot be determined b. $62,500 c. $125,000 d. $187,500

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