Table 5-1 -Referring to Table 5-1, What Is Gross Margin?
A)$145,000
B)$105,000

Multiple Choice

Table 5-1 $$\begin{array} { | l | r | } \hline \text { Sales revenue } & \$ 480,000 \\\hline \text { Cost of goods sold } & 300,000 \\\hline \text { Sales discounts } & 20,000 \\\hline \text { Sales retums and allowances } & 15,000 \\\hline \text { Operating expenses } & 85,000 \\\hline \text { Interest revenue } & 5,000 \\\hline\end{array}$$
-Referring to Table 5-1, what is gross margin?

A) $145,000
B) $105,000
C) $140,000
D) $90,000