Katz Group
Katz Group Had the Following Income Statement for the Month

question 20

Multiple Choice

Katz Group
Katz Group had the following income statement for the month of May. $\begin{array}{lr}\text { Sales revenue } & \$ 428,000 \\\text { Cost of goods sold } & 205,440 \\\text { Gross margin } & 222,560\\\text { Less: }\\\text { Selling expenses } & 81,32 0\\\text { Administrative expenses } & 72,760\\\text { Operating income }&\$68,480\end{array}$
-Refer to Katz Group. What was the gross margin percentage?

• A) 17%
• B) 19%
• C) 48%
• D) 52%

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