Based on the income statement and balance sheet for Bankowski Corporation, calculate the company's Gross Margin Ratio for 2017. State your answer as a percentage (%). Bankowski Corporation Income Statement For Year Ended December 31, 2017 Sales $504.000 $327,600 33.000 125.500 (486.100 Cost of goods sold Depreciation expense Other operating expenses Other gains (losses): Gain on sale of equipment Income before taxes 5.200 Income tax expense Net income $23,100 (4.800) $18.300 7 AR A MacBook Can 668/quizzes/227868/take/questions Net income $18,300 Bankowski Corporation Balance Sheets At December 31 2017 2016 Assets: Cash Accounts receivable Inventory Equipment Accumulated depreciation Total assets Liabilities: Accounts payable Income taxes payable Total liabilities Equity: Common stock $62,6501 $55,800 21,000 29,000 58,000 52,100 240,000 222,000 (97,000) (96,000) $284,650 $262,900 $28,400 1,050 $29,450 $23,700 1,200 $24,900 $106,000 $106,000 E B A MacBook -2668/quizzes/227868/take/questions/4964303 Get Da new M Common stock Paid-in Capital in excess of parvalue Retainedeamings Total equity Total liabilities and equity $106.000 $106,000 18.000 18,000 131,200 114,000 $255,200 $238,000 $284,650 $262,900 285 0 35 65 O 3.6 Previous Next No new data to save. Last checked at 7:33pm Submit Qul G A MacBook 000 00 DD FS FB IND