12.com k OLS LoginMyNU Question Completion Status QUESTION 17 The following information applies to the questions displayed below] Sanchez Company engaged in the following transactions during Year 1: 1) Started the business by issuing $42,000 of common stock for cash. 2) The company paid cash to purchase $26,400 of inventory 3) The company sold inventory that cost $16,000 for $30,600 cash. 4) Operating expenses incurred and paid during the year, $14,000 Sanchez Company engaged in the following transactions during Year 2 1) The company paid cash to purchase $35.200 of inventory 2) The company sold inventory that cost $32,800 for $57,000 cash. 3) Operating expenses incurred and paid during the year, $18,000 Note: Sanchez uses the perpetual inventory system. What is Sanchez's gross margin for Year 2? $24.200 O $6,200 O$32,800 $21,800 Click Save and Submit to save and submit. Click Save All Answers to save all answers. fob Highlight All Match Case Whole words of 1 match