Net sales Cost of goods sold Other expenses Net income 500,000 250,000 100,000 150,000 Inventory Other current assets Long-term assets Current liabilities Long-term liabilities 180,000 30,000 300,000 50,000 200,000 Number of common shares issued & outstanding Market price per share 50,000 6 Common stock Retained earnings 200,000 60,000 What is the gross margin percentage? 33% 54% 50% 30%