A company has net sales of $888,000 and cost of goods sold of $589,000. Its net income is $106,200. The company's gross margin and operating expenses, respectively, are: Multiple Choice $299,000 and $397,600 $299,000 and $192,800 $299,000 and $106,200 $192,800 and $106,200 $695,200 and $192,800