Financial Information Is Presented Below The Gross Profit Rate Would Be
A)$64

question 111

Multiple Choice

Financial information is presented below: $$\begin{array} { l r } \text { Operating expenses } & \$ 42,000 \\\text { Sales returns and allowances } & 12,000 \\\text { Sales discounts } & 3,000 \\\text { Sales revenue } & 165,000 \\\text { Cost of goods sold } & 96,000\end{array}$$ The gross profit rate would be

• A)$64.
• B)$42.
• C)$36.
• D)$37.

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