The accounting record for Katzen Company reported the following selected information: Operating Expenses $270,000 Sales Returns and Allowances 78,000 Sales Discounts 36,000 Sales Revenue 1,050,000 Cost of Goods Sold 402,000 Determine Katzen Company's gross profit.

Select one: A. $498,000 B. $420,000 C. $534,000 D. $462,000