Question: Please explain the solution to this general accounting problem with accurate principles. Using the following information, compute gross profit: Sales revenue = $12,000 Cost of

Please explain the solution to this general accounting problem with accurate principles.

Using the following information, compute gross profit: Sales revenue = $12,000 Cost of goods sold (COGS) = $7,500 Interest expense = $1,000 Selling and administrative expenses = $1,200 Income tax expense = $900 Dividends = S500 Cash = $600 Retained earnings (beginning) = $2,000 What is the gross profit? a. $4,500 b. $3,300 c. $6,300 d. $5,000 e. $2,100

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