The following income statement is given to you: 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 $ 90,000 What is the profit margin for this corporation? Round your answer to one decimal place. a. 22.5 percent b. 30.0 percent c. 40.0 percent d. 53.3 percent