Charhofe Industries Income Statement for year Ending December 31, 2019 (amounts in millions) Sales $340.0 Less: Cost of Goods Sold 175.0 Gross Margin $165.0 Less: Operating Expenses 75.0 Operating Income $90.0 Less: Interest Expenses 12.0 Income Before Taxes $78.0 Less: Tax Expense Net Income What is the 2019 gross margin percentage for Charhofe Industries? 15.6 $62.4 18.4% 22.1% 48.5% 51.5%