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

question 137

Multiple Choice

Financial information is presented below: $$\begin{array} { l r } \text { Operating expenses } & \$ 35,000 \\\text { Sales returns and allowances } & 12,000 \\\text { Sales discounts } & 3,000 \\\text { Sales revenue } & 140,000 \\\text { Cost of goods sold } & 85,000\end{array}$$ The gross profit rate would be

• A) .68.
• B) .39.
• C) .32.
• D) .34.

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