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The following information is available for Coswell Industries. Operating expenses amount to $25,240. Sales revenue is $257,640. Sales returns and allowances amount to $14,940. COGS

The following information is available for Coswell Industries. Operating expenses amount to $25,240. Sales revenue is $257,640. Sales returns and allowances amount to $14,940. COGS is $153,420. A gain of $7,000 was realized on the sale of plant assets. Based on this, gross profit is

a.$64,040

b.$71,040

c.$89,280

d.$104,220

e.$111,220

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