Question - The Conner Company reports the following information:
Sales for the year ended December 31, 2012 $106,950
Gross profit for the year ended December 31, 2012 $52,350
Net income for the year ended December 31, 2012 $7,300
Total Current Assests, December 31, 2012 $18,700
Total Current Liabilities, December 31, 2012 $7,600
Total Assets, December 31, 2012 $48,400
Total Liabilities, December 31, 2012 $20,850
Total Common shares outstanding, December 31, 2012 1,000
Market price per share, December 31, 2012 $75.00
Dividends per share, for the year ended December 31, 2012 $5.00
What is the gross profit percentage for the year ended December 31, 2012?
A) 48.89%
B) 12.6%
C) 16.2%
D) 6.8%