For the year just ended calculate the company has gross

A company reports the following account balances at year-end:

Account	Balance
Long-term debt	$200,000
Cash	50,000
Net sales	600,000
Fixed assets (net)	320,000
Tax expense	67,500
Inventory	25,000
Common Stock	100,000
Interest expense	20,000
Administrative expense	35,000
Retained earnings	150,000
Accounts payable	65,000
Accounts receivable	120,000
Cost of goods sold	400,000
Depreciation expense	10,000

Additional Information:
The opening balance of common stock was $100,000
The opening balance of retained earnings was $82,500
The company had 10,000 common shares outstanding all year
No dividends were paid during the year

For the year just ended, Calculate the company has gross margin.

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