The following information concerning Harrys Hats applies to all six questions.

Harry's Hat Shop" is a store that sells baseball caps with sports team logos. "Harry's Hat Shop" pays its supplier (located in Korea) $5 per cap. The store sells the caps to retail customers in Toronto for $10 each. During the fiscal year 2014 Harry's Hat Shop sold the following:

Maple Leafs caps 30,000

Montreal Canadiens caps 25,000

Raptors caps 15,000

Blue Jays caps 15,000

Toronto FC caps 10,000

Argonaut caps 5,000

The store paid $2,500 per MONTH in rent, and $70,000 to the four part-time staff who work in the store. In addition Harrys Hats spent $25,000 per year in advertising and $15,000 on a booth and promotional activities at Torontos annual Fanpalooza sports memorabilia show. The business pays $20,000 per year to its part-time bookkeeper and accountant. All other expenses, which consisted of utilities, insurance, and day-to-day consumables and supplies, cost $40,000. There are no other revenues or expenses, and there is no other relevant financial information.

From the information given, calculate Harrys Hat Shops revenues for 2014

Group of answer choices

a-$2 million

b-$1 million

c-$500,000

d-$400,000

e-None of the above

The following information concerning Harrys Hats applies to all six questions.

Harry's Hat Shop" is a store that sells baseball caps with sports team logos. "Harry's Hat Shop" pays its supplier (located in Korea) $5 per cap. The store sells the caps to retail customers in Toronto for $10 each. During the fiscal year 2014 Harry's Hat Shop sold the following:

Maple Leafs caps 30,000

Montreal Canadiens caps 25,000

Raptors caps 15,000

Blue Jays caps 15,000

Toronto FC caps 10,000

Argonaut caps 5,000

The store paid $2,500 per MONTH in rent, and $70,000 to the four part-time staff who work in the store. In addition Harrys Hats spent $25,000 per year in advertising and $15,000 on a booth and promotional activities at Torontos annual Fanpalooza sports memorabilia show. The business pays $20,000 per year to its part-time bookkeeper and accountant. All other expenses, which consisted of utilities, insurance, and day-to-day consumables and supplies, cost $40,000. There are no other revenues or expenses, and there is no other relevant financial information.

Based on the information given, what was Harry's Hat Shops cost of goods sold for 2014?

Group of answer choices

a-$1.4 million

b-$1 million

c-$700,000

d-$500,000

e-None of the above