If sales revenue is estimated to increase by 10% for the upcoming year due to consumers wanting to eat a healthier diet, what would the gross margin and net income be, assuming that the cost of goods percentage remains the same at 40% of sales revenu using a traditional income statement approach? Gross margin Operating income At year-end, Marigold had Sales Revenue of $810.000. Its Cost of Goods Sold was 40% of Sales Revenue. Operating expenses for the year included $142,000 of Selling Expenses, $99,000 of General and Administrative Expenses. Merchandise Inventory was $57,300, and Prepaid Expenses were $24.500