Math calculation problems

[Brandon Snyder]

Hey all. I'm studying for the real estate principles final exam at UCLA, and I'm having a hell of a time with the math section. Maybe someone can help me figure this one out.

"An owner sold a property for $35,200 which represents a 10% profit over what was paid. What was the owner's cost?"

I know the answer is $32,300, but I can't figure out why.  What am I not seeing?