Zinc Corporation is a merchandising company. Selected account balances (in dollars) are listed below:

Account Name: Balance

Sales $ 200,000

Beginning Inventory 8,000

Ending Inventory 15,000

Selling, General and Administrative Expenses 74,000

Cost of Goods Sold 105,500

Income Tax Expense 5,000

Dividends 7,500

Question: What was Zinc's gross margin (gross profit)?

Select one: a. $ 70,500 b. $144,500 c. $ 65,500 d. $178,000 e. $ 94,500