Your company buys 500 pairs of socks at $3 each (including other purchasing costs such as transportation) and sells them for $5 each.

5. Use the information above to answer the following question. Which of the following statements is true? A. The sales revenue is $1,500. B. The gross profit is $1,500. C. The cost of goods sold is $1,500. D. The net income is $1,500.