Let
P-------> the profit
N------> the net sales
C-----> cost of goods
O-----> operating expense
we know that
\(P=N-(C+O)\)
in this problem
\(N=\)$@@MATH_TOKEN_2@@
@@MATH_TOKEN_3@@$\(70,000\)
\(O=\)$@@MATH_TOKEN_6@@
Substitute the values in the formula above to find the Profit
@@MATH_TOKEN_7@@
@@MATH_TOKEN_8@@
@@MATH_TOKEN_9@@
therefore
the answer is
the Gross Profit is equal to $\(12,000\)
