Determining gross profit

During the current year, merchandise is sold for $$786,000.$ The cost of the goods sold is $$550,200.$

a$.$ What is the amount of the gross profit?

fill in the blank $1$ of $2$$

$235,800$

b$.$ Compute the gross profit percentage $($gross profit divided by sales$).$

fill in the blank $2$ of $2$

$\%$

c$.$ Will the income statement always report an operating income?

No