The following is the trial balance of Nikol Corporation, as of 31 December 2011: Particulars Dr. C. Amount s Amount S Capital 103,000 Purchases 89,800 Purchases return 8,000 Sales 84,000 Sales return 4,000 Stock on 1 January 2011 Cash in hand --- 29.000 5.000 6,000 7 200 2,000 3,000 Salaries Rent Commission received Discount earned Sundry creditors Sundry debtors Machinery 17,000 10,000 12,000 Furniture 10,000 Land and building 32,000 Drawings 10,000 Insurance 2,000 217,000 217,000 The stock on 31 December 2011 is $40,000 Calculate the Gross Profit. Gross Profit will be Marks) (4 Select one: O A 59100 O B. $120,000