Procter & Gamble Co. has the following information for the quarter ended March 31, 2024:

Account	Amount
Sales Revenue	$10,000,000
Cost of Goods Sold	$6,000,000
Selling Expenses	$1,500,000
Administrative Expenses	$1,000,000
Other Income	$300,000
Interest Expense	$200,000
Income Tax Expense	$500,000

Prepare an income statement for Procter & Gamble Co. and calculate the gross margin and net income for the quarter ended March 31, 2024.