The income statement of Hardy Holders is shown below. In the previous year (2018), Hardy Holders had sales of $45,000,000 (as compared to $50,000,000 in 2019) and a gross margin of 47%. Hardy Holders 2019 Income Statement (5000) Net sales $50,000 Cost of goods sold 25,500 Other costs 11,500 Depreciation 7,500 EBIT 5,500 Interest expense Earnings before tax 5,000 Taxes (30%) 1,500 Net Income 500 3,500) What is the percentage increase in the absolute gross margin? (For example, if the gross margin one year is 100 and it's 107 the next year, then the increase is 7%.) in B IL D- := = % xz x Ff TA 3 = E E