2. The following income statement is given to you. Restaurant sales $400,000 Cost of goods sold 240,000 Gross margin $160,000 Operating expenses 40,000 Income before income taxes $120,000 Income taxes expense 30,000 Net income $ 90,000 A B B business. D Calculate the gross margin percentage? What is operating expense as a percentage of sales? Calculate the rate of income tax for the above What is the net income percentage