Read each sentence to find out whether there is any grammatical error in it. The error, if any will be in one part of the sentence. The letter of that part is the answer. If there is no error, the answer is 'D'. (Ignore the errors of punctuation, if any).

1. Regretfully, profits earned by your company
2. fell by 20 per cent last year
3. despite higher sales.
4. No error.