A company has net sales of $879,000 and cost of goods sold of $583,000. Its net income is $105,100. The company's gross margin and operating expenses, respectively, are: Multiple Choice $296,000 and $393,300 $688,100 and $190,900 $296,000 and $190,900 $190,900 and $105,100 $296,000 and $105,100