A company has net sales of $910,000 and cost of goods sold of $603,500. Its net income is $108,900. The company's gross profit and operating expenses, respectively, are: Multiple Choice $306,500 and $407.900 $306,500 and $197,600 $306,500 and $108,900 $197,600 and $108,900 $712,400 and $197,600