Fred Runs a General Store and Has the Following Statement

Fred runs a general store and has the following statement of profit or loss balances in his books at 31 December 2019: opening inventory: £25,000, wages: £45,000, sales: £275,000, purchases: £130,000, heat and light: £15,000, closing inventory: £28,700. What is Fred's gross profit for the year ended 31 December 2019?

A) £88,700
B) £103,700
C) £141,300
D) £148,700