Wright & Boyle Inc. had the following income statement for the month of May: Sales revenue $470,800.00 Cost of goods sold 217,766.40 Gross margin $253,033.60 Less: Selling expenses $ 86,199.20 Administrative expenses 74,942.80 Operating income $ 91,891.60 What was the operating income percent? (Note: Round your answer to two decimal places.) 15.75% 19.65% 17.55%