2.      Your firm has the following income statement items: sales of $50,250,000; income tax of $1,744,000; operating expenses of $10,115,000; cost of goods sold of $35,025,000; and interest expense of $750,000. What is the amount of the firm’s gross profit?

a.       $18,000,000

b.      $15,225,000

c.       $5,000,110

d.      $6,632,000