JCPenny Had Net Sales of $28,496 Million,its Cost of Goods

question 134

Multiple Choice

J.C.Penny had net sales of $28,496 million,its cost of goods sold was $19,092 million and its net income was $997 million.Its gross margin ratio equals:

• A)3.5%
• B)5.2%
• C)33%
• D)67%
• E)149.3%