33. During 2014, Carlita's competitor Farside had double the sales of Carlita, but it also earned a gross margin of $30,000. What was Farside's 2014 gross margin percentage? 25% 50% 12.5% Insufficient information; cannot be calculated Carlita Company Income Statement for Year Ending December 31,2014 Sales.. Less: Cost of Goods Sold.. Gross Margin....... Less: Operating Expenses.. Operating Income.. Less: Interest Expense.. Income Before Taxes.... Less: Tax Expense.. Net Income. $120,000 90,000 $30,000 10,000 $20,000 2,000 $18,000 6,000 $12,000