Porches, Inc., sells lawn furniture. Selected financial information for the most recent year follows. Beginning merchandise inventory on January 1 was $33,200.
Ending merchandise inventory on December 31 was $36,000.
Purchases during the year were $92,800.
Selling and administrative expenses were $75,400.
Sales for year were $262,800.
What was gross profit?

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The Answer of Porches, Inc., sells lawn furniture. Selected financial information for the most recent year follows. Beginning merchandise inventory on January 1 was $33,200.
Ending merchandise inventory on December 31 was $36,000.
Purchases during the year were $92,800.
Selling and administrative expenses were $75,400.
Sales for year were $262,800.
What was gross profit?