Using the following transactions, what is the company's gross margin percentage? 1) The company paid cash to purchase $225,000 of inventory. 2) The company sold $65,000 of this inventory for $109,000. 3) The customer was unhappy and was given a $3,500 allowance against the purchase price 4) Operating expenses incurred and paid during the year were $35,000. O 37.16% O 35.03% 59.63% O 38.39% 61.61%