The following information pertains to the January operating budget for Murphy Corporation, a retailer:

Budgeted sales are $$206,000$ for January

Collections of sales are $50\%$ in the month of sale and $50\%$ the next month

Cost of goods sold averages $61\%$ of sales

Merchandise purchases total $$160,000$ in January

Marketing costs are $$3,600$ each month

Distribution costs are $$6,000$ each month

Administrative costs are $$10,000$ each month

For January, budgeted gross margin is

A$.$ $$46,000$

B$.$ $$80,340$

C$.$ $$125,660$

D$.$ $$103,000$