Acme has the following financial Information Gross Sales: $900,000 Sales Returns and Allowances: $50,000 Sales Discounts: $30,000 Purchases of Inventory: $500,000 Cost of Goods Sold: $520,000 Operating Expenses: $100,000 Gain on Sale of Equipment: $10,000 What is the company's profit margin? Select one: a. 32.2% b. 28.0% c. 25.6% d. 26.8% e. 24.4%