Use information below to answer this question.

Capital: opening balance 307,000
closing balance 342,000
Net profit for the period 121,600
Opening stock 98,800
Purchases 706,000
Carriage inwards 17,500
Cost of goods sold 740,700
Total selling , general and
administration expenses 526,000
Discount received 9, 650

Calculate the gross profit for the period?

• A.N 535,650
• B.N628,300
• C.N637,950
• D.N647,600
• E.