Gannon Company Had the Following Information at December 31: Finished $1 \quad \$ 50,000$

Gannon Company had the following information at December 31: Finished goods inventory, January $1 \quad \$ 50,000$
Finished goods inventory, December $31 \quad 150,000$ If the cost of goods manufactured during the year amounted to $2,200,000 and annual sales were $2,750,000, the amount of gross profit for the year is

A) $550,000.
B) $2,100,000.
C) $650,000.
D) $450,000.