a cr problem

littlebluesk

ICP, a company that makes novelty items, decided to try to increase sales by offering its products on a cable television shopping program. Sales of individual items increased by 42 percent, with many of the orders coming through the cable program. The directors of ICP were disappointed to find that their profits did not increase as dramatically.

Which of the following statements, if true, would best explain why ICP抯 increased sales did not lead to a larger increase in profits?  
   a:The market for novelty items is adversely affected by general economic trends such as high interest rates and unemployment.  
  b:The items purchased through the cable program tended to be the least-expensive items in ICP抯 inventory.  
  c:The net profit on sales through the cable company was higher than the net profit on sales through ICP抯 stores and catalogs.  
  d:Several middle managers at ICP cashed in their profit-sharing accounts when they took jobs at another company.  
e: Figures for net profits in the period before the cable program aired did not include licensing fees ICP collected for one of its best-selling items.
the anwer is b, but I wonder why e is not correct.