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Aurora Company has the following financial information for the fiscal year 2020: Gross sales: $180,000 Sales discount: $15,000 Cost of goods sold: $85,000 Profit: $20,000

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Aurora Company has the following financial information for the fiscal year 2020: Gross sales: $180,000 Sales discount: $15,000 Cost of goods sold: $85,000 Profit: $20,000 Calculate Aurora Company's gross profit margin and profit margin for 2020. O a. Gross profit margin of 44.44%; profit margin of 11.11% o O b. Gross profit margin of 57.58%; profit margin of 11.11%

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