The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Northview Company as they appear on the company's adjusted trial balance. Accounts Payable$12,000? Accounts Receivable 22,000? Inventory 22,200? Advertising Expense 17,500? Cost of Goods Sold 133,000? Delivery Expense 7100? Income Tax Expense 4000? Insurance Expense 1000? Rent Expense 16,400? Sales Revenue 270,000? Sales Discounts 9900? Sales Returns & Allowances 35,500? The gross profit percentage would be closest to:
A. 74.2%.
B. 87.1%.
C. 40.8%.
D. 34.9%.
Answer: C
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