Garrit Limited's income statement reported the following for the year ended Dec 31, 2016: Sales revenue 881,000, Cost of goods sold 573,000, Expenses 129,000, Net income 179,000 Which is the correct statement about the income statement?*

2 points

A) Mark-up on selling price is $573,000.

B) Mark-up on cost is 53.75%.

C) Gross margin percentage is 20.32%.

D) Mark-up on the selling price is $308,00