The Following Information Is Available from the Most Recent Financial

The following information is available from the most recent financial statements of the Carolyn Co.: $\begin{array}{lr}\text { Total assets } & 400,000 \\\text { Net income } & 60,000 \\\text { Average total liabilities } & 200,000 \\\text { Sales revenue } & 750,000 \\\text { Total liabilities } & 250,000 \\\text { Average total assets } & 350,000\end{array}$ What is the company's net profit margin?

A) 8%
B) 12.5%
C) 15%
D) 17.1%

Correct Answer:

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