Income Statement Sales (all on account) Cost of goods sold...................... Gross margin........ Operating expenses Net operating income.. Interest expense.. Net income before taxes ............. Income taxes (35%).. Net income $1.240.000 730.000 510.000 450.462 59.538 18.000 41.538 14.538 27.000 5. Mormino Corporation's income statement is shown. The company's gross margin percentage is closest to percent. A. 1888.9 B. 5.3 C. 69.9 D. 4