United, Inc's ledger indicated the following accounts and balances as of December 31 before any adjusting entries were made: Merchandise Inventory Purchases Purchases Returns and Allowances $ 40,000 (January 1 balance) Purchases Discounts Freight-In Freight-Out Sales Revenue Sales Returns and Allowances .Sales Discounts 75,000 8,000 6,000 4,000 5,000 100,000 12,000 4,000 Assume that United, Inc's cost of goods sold is $40,000. What is United, Inc's gross profit