The Conner Company Reports the Following Information What Is the Gross Profit Percentage for the Year Ended

question 15

Multiple Choice

The Conner Company reports the following information:
$$\begin{array} { l l } \text { Sales for the year ended December 31, 2012 } & \$ 106,950 \\\text { Grom profit for the year ended December } 31,2012 & \$ 52,350 \\\text { Net income for the year ended December } 31,2012 & \$ 7,300 \\\text { Total Current Assets, December } 31,2012 & \$ 18,700 \\\text { Total Current Liabilities, December } 31,2012 & \$ 7,600 \\\text { Total Assets, December } 31,2012 & \$ 48,400 \\\text { Total Liabilities, December } 31,2012 & \$ 20,850 \\\text { Total common shares outstanding, December } 31,2012 & 1,000 \\\text { Market price per share, December } 31,2012 & \$ 75,00 \\\text { Dividends per share, for the year ended December } 31,2012 & \$ 5.00\end{array}$$
What is the gross profit percentage for the year ended December 31,2012?

• A) 6.8%
• B) 12.6%
• C) 16.2%
• D) 48.9%

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