What Does Gross Margin Refer To

What does gross margin refer to?

A) how much money a retailer makes as a percentage of sales after the cost of goods sold is subtracted
B) how much money a retailer makes after the cost of goods sold is subtracted
C) how much money a retailer makes as a percentage of sales after the cost of goods sold and business expenses are subtracted
D) how much money a retailer makes after the cost of goods sold and business expenses are subtracted