2.Given the following 2018 profit and loss statement for Ralph's Nursery Supply, calculate gross margin, operating margin, and net margin.

Ralph's Nursery Supply Profit and Loss Statement	2018
Sales Activities
Gross Revenue	$8,953,343
Less Returns	$223,834
Net Revenue	$8,729,509
Cost of Goods Sold	$3,609,887
Gross Profit	$5,119,622
Operating Expenses
Selling Expenses	$2,309,876
Overhead Expenses	$1,608,564
Depreciation	$89,432
Total Operating Expenses	$4,007,872
Operating Profit	$1,111,750
Interest	$157,000
Profit before Taxes	$954,750
Income Taxes	$200,498
Net Profit	$754,253