Fast Snacks Income Statement For the Year Ended 12-31-2006 Sales Revenue $77,913 Cost of Sales: Beginning Inventory Purchases Goods Available for sale Less: Ending Inventory 530.280 $30,280 624 Cost of Sales $ 1,024 Gross Margin Operating Expenses Truck operating expenses Add: Truck expense invoice Interest expense [8% * $12,000] Depreciation expense 20% * $24,000 Total Operating Expenses Operating Income before tax) 960 4.800 1. What is the cost of Sales Percentage? What is the operating income percent A cost of Sales Percentage 38 * Operating Income Percentage-521 B. cost of Sales Percentage 24 - Operating Income Percentage SOM C. cost of Sales Percentage 35 %Operating Income Percentage 40% D. cost of Sales Percentage 23 - Operating Income Percentage 49%