The following are the income statements for Ace and Diamond Companies. Revenue Cost of goods sold Ace Diamond $ 70,000 $76,000 49,000 49,000 Gross margin 21,000 30,400 Operating expenses 9,500 Net income $ 11,500 12,500 17,900 What are the net income percentages for the above companies? Multiple Choice 6.09%; 4.25% 1.83%; 1.70% 16.4%; 23.6% 30%; 40%