G Co,Which Is a Biotechnology Firm,reported the Following Revenues on Their

Multiple Choice

G Co.,which is a biotechnology firm,reported the following revenues on their 2012 income statement: Product sales $582.2 million,Royalties $214.7 million,Contract revenue $107.0 million and Interest income $64.1 million.Their cost of sales were reported as $104.5 million.What was their gross profit percentage?

A) 82.1%
B) 86.9%
C) 88.4%
D) 89.2%