The records of BRACKISH SALTY Co. showed the following information: Accounts receivable, net, Jan. 1, 20x1 40,000 Accounts receivable, net, Dec. 31, 20x1 160,000 Accounts receivable turnover 4:1 Inventory, Jan. 1, 20x1 120,000 Inventory, Dec. 31, 20x1 60,000 Inventory turnover 3:1 How much is the gross profit for the year? a. 120,000 b. 130,000 c. 132,000 d. 146,000

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