During the Year Ended 30 June 20X0,Endurance Lands Ltd Sold

During the year ended 30 June 20X0,Endurance Lands Ltd sold seven blocks of land for the following prices:
$$\begin{array}{l}\text { Blocks } 1 \text { and } 2 \quad \$ 50000 \text { each }\\\text { Blocks } 3 \text { to } 5 \quad \$ 56000 \text { each }\\\text { Blocks } 6 \text { and } 7 \quad \$ 62000 \text { each }\end{array}$$
The average cost of each of blocks 1 and 2 was $45 000 and of each of blocks 3 to 7 was $46 000.In early July 20X0,before the financial statements were completed,the purchaser of Block 3 was declared bankrupt and the contract for sale of the land was rescinded.Also in early July,the company agreed that the purchaser of Block 2 would pay half the purchase price immediately but could delay paying the other half until July 20X1.The total profit on the sale of land for the year ended 30 June 20X1 should be recorded as:

A) $62 000
B) $72 000
C) $57 000
D) $52 000