Nikkel Corporation, a merchandising company, reported the following results for July:

Sales	$ 435,200
Cost of goods sold (all variable)	$ 174,080
Total variable selling expense	$ 18,450
Total fixed selling expense	$ 15,230
Total variable administrative expense	$ 8,270
Total fixed administrative expense	$ 32,210

The gross margin for July is:

	$387,760
	$234,400
	$261,120
	$186,960