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Business, 06.04.2020 19:01 weberalycia

The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Northview Company as they appear on the company’s adjusted trial balance.

Accounts Payable $10,000
Accounts Receivable 11,000
Inventory 20,000
Advertising Expense 12,000
Cost of Goods Sold 89,000
Delivery Expense 6,000
Income Tax Expense 2,000
Insurance Expense 1,000
Rent Expense 12,000
Sales Revenue 160,000
Sales Discounts 11,000
Sales Returns & Allowances 19,000

Use the information above to answer the following question. The gross profit percentage would be closest to: %

A) 25.6%

B) 31.5%

C) 55.6%

D) 68.5%

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