Refer to the Following Information to Answer the Question(s) Regarding

question 62

Multiple Choice

Refer to the following information to answer the question(s) regarding Port Royal:
Net sales $927,641
Gross profit $301,483
Net profit $48,457
Total assets $203,869
Total liabilities $74,325
-Port Royal's profit margin on sales is:

• A) 5.2 percent.
• B) 32.5 percent.
• C) 16.1 percent.
• D) 8.0 percent.