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Cecily Cedric is a toy manufacturer producing toys that are shipped to various retail customers...

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Cecily Cedric is a toy manufacturer producing toys that are shipped to various retail customers upon receipt of their purchase orders. Sales are billed after shipment. The company estimates that approximately 2 per cent of credit sales prove to be uncollectable. Cecily Cedric entered into the table-top game market and offer a promotion on their latest game called the FoxBox1. Transactions for the year 2022 were as follows: 1. 12,000 FoxBox1 were manufactured at a cost of $30 each. 2. 10,000 FoxBox1were sold for $50 each. 3. Cash was collected on 6,000 of the FoxBox1 sold. What was the reported profit for the year 2022 if revenue was recognised at the point of sale? a. $0 O b. $190,000 c. $140,000 O d. $120,000 X O e. $320,000

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