Use the following information to answer Questions $10-13.$

Cendant Corporation's results for the year ended December $31,2016,$ include the following material items:

Selling and administrative expenses

Interest revenue

Cost of goods sold

Loss on sale of fixed assets

Provision for income taxes

Loss from Discontinued Operations

Research and development expenses

Sales revenue

$1,300,000$

$50,000$

$3,800,000$

$300,000$

$195,000$

$100,000$

$200,000$

$6,200,000$

Cendant Corporation's gross profit for $2016$ is:

$$1,100,000$

None of the other answers.

$$2,400,000$

$$2,450,000$