Financial Information Is Presented Below The Gross Profit Rate Would Be
A)

Financial information is presented below: $\begin{array}{lr}\text { Operating Expenses } & \$ 92,800 \\\text { Sales Returns and Allowances } & 18,000 \\\text { Sales Discounts } & 12,000 \\\text { Sales Revenue } & 350,000 \\\text { Cost of Goods Sold } & 176,000\end{array}$ The gross profit rate would be

A) .356.
B) .450.
C) .146.
D) .497.

Correct Answer:

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