Sales (all on account) .......................... $807,000 Cost of goods sold .............................. mg Gross margin ...................................... 361,000 Selling and administrative expense ...... 186,000 Net operating income .......................... 175,000 Interest expense _________________________________ 39,000 Net income before taxes ...................... 136.000 Income taxes ...................................... 40 000 Net income ......................................... m 18. Grosvenor Corporation's most recent income statement is shown. The gross margin percentage is closest to percent. A. 376.0 B. 80.9 C. 26.6 D. 44.7