i just need the answer to b please. And please explain how you got the answer.

Determining Gross Profit During the current year, merchandise is sold for $787,000. The cost of the goods sold is $487,940. a. What is the amount of the gross profit? 299,060 b. Compute the gross profit percentage (gross profit divided by sales). Round to the nearest whole number % c. When will the income statement report net income? If operating expenses are less than gross profit