Garrit Limited's Income Statement Reported the Following for the Year

Multiple Choice

Garrit Limited's income statement reported the following for the year ended Dec 31, 2019: $$\begin{array} { | l | r | } \hline \text { Sales revenue } & 881,000 \\\hline \text { Cost of goods sold } & 573,000 \\\hline \text { Expenses } & 129,000 \\\hline \text { Net income } & 179,000 \\\hline\end{array}$$ Which is the correct statement about the income statement?

A) Mark-up on selling price is $573,000.
B) Mark-up on cost is 53.75%.
C) Gross margin percentage is 20.32%.
D) Mark-up on the selling price is $308,000.