The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Corporate Total Cost of goods sold Direct operating expenses Net sales Interest expense Corporate overhead Income tax Rails Locomotive Division Division $47,200 $30,720 27,200 20,040 98,000 68,000 $ 5,040 18,160 4,700 The gross profit for the Locomotive Division is: $47,800 $20,600 $37,280 $17,240