What is the Gross Margin?

The following information pertains to the January operating budget for Murphy Corporation, a retailer: Budgeted sales are $210,000 for January Collections of sales are 60% in the month of sale and 40% the next month Cost of goods sold averages 63% of sales Merchandise purchases total $155,000 in January Marketing costs are $3,300 each month Distribution costs are $5,100 each month Administrative costs are $10,800 each month For January, budgeted gross margin is