G Co., which is a biotechnology firm, reported the following revenues on their 20X3 income statement: Product sales $582.2 million, Royalties $214.7 million, Contract revenue $107.0 million and Interest income $64.1 million. Their cost of sales was reported as $104.5 million. What was their gross profit percentage?

• 82.1%

• 86.9%

• 88.4%

• 89.2%