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Here is some financial information for XYZ Corp from last year: Sales: $1,000,000 Cost of Sales: $100,000 Depreciation Expense: Administrative Expenses: Other Operating Expenses:

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Here is some financial information for XYZ Corp from last year: Sales: $1,000,000 Cost of Sales: $100,000 Depreciation Expense: Administrative Expenses: Other Operating Expenses: $80,000 $30,000 $90,000 Income Tax Expense: $150,000 Losses: $40,000 Dividends paid: $20,000 What was XYZ's Gross Margin last year?

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