Problem: 1 Use the following information to answer the questions that follow: Starman Corporation Income Statement For the Year Ended December 31, 2019 Net sales $400,000 Cost of goods sold 240,000 Gross margin $160,000 Operating expenses 40,000 Income before income taxes $120,000 Income taxes expense 30,000 Net income S 90.000 a. What is the profit margin for this corporation? Round your answer to one decimal place. b. Calculate the cost of goods sold percentage. Calculate the gross margin percentage. d. Calculate the income tax rate? c