Charnore industries Income Statement for year Ending December 31, 2019 (amounts in millions) Sales Less: Cost of Goods Sold Gross Margin Less: Operating Expenses Operating Income Less: Interest Expenses Income Before Taxes Less: Tax Expense Net Income $340.0 175.0 $165.0 75.0 $90.0 12.0 $78.0 15.6 $62.4 If Charhofe was able to increase sales at a greater rate than cost of goods sold, how would gross margin percentage be impacted? It would increase It would decrease It would not be impacted It cannot be determined with the information given