Yellow Company sells hair products. The following information is selected financial information for the most recent year. Beginning merchandise inventory on January 1 was $33,800. Ending merchandise inventory on December 31 was $35,500. Purchases during the year were $92,500. Selling and administrative expenses were $75,300. Sales for year were $262,400. What was gross profit? A. $169,900 B. $151,600 C. $171,600 OD. $187,100