Up-To-Date Merchandisers Has the Following Transactions for the Month of July

Up-to-date Merchandisers has the following transactions for the month of July. $$\begin{array} { | l | r | } \hline \text { Sales Revenue } & \$ 440,000 \\\hline \text { Cost of Goods Sold } & 300,000 \\\hline \text { Operating Expenses } & 90,000 \\\hline \text { Sales Discounts } & 25,000 \\\hline \text { Sales Returns and Allowances } & 18,000 \\\hline \text { Interest Revenue } & 7,000 \\\hline\end{array}$$ Calculate Gross Profit.

A) $54,000
B) $97,000
C) $115,000
D) $140,000