QUESTION 3 Tide, Inc. sells items over the Internet for individuals on a consignment basis. Tide, Inc. receives items from the owner, lists them for sale on the Internet, and receives a commission for any items sold. Tide, Inc. collects the full amount from the buyer and pays the net amount after commission to the owner. Tide, Inc. returns any unsold items to the owner after 120 days. During 2019, Tide, Inc. sold items for $1,850,000 on consignment, retained fees of $462,500, and incurred direct selling costs of $35,000. How much gross profit should Tide, Inc. report on its income statement for 2019? a. $335,500 b. $427,500 c. $462,500 O d. $1,815,000 O e. $1,850,000