Problem 3-4. Worden Corporation has the following income statement for the year: Income Statement For the Year Ended December 31 Sales revenues $85,000 Expenses: Cost of goods sold $45,000 Selling and administrative expenses 25,000 Income taxes 6,000 Total expenses $76,000 Net Income $ 9,000 Required: a. Calculate (1) Gross margin (in dollars). (2) Gross margin percentage. (3) Profit margin percentage. b. Interpret the results of the above calculations.