38. The Good Light is a store for people who enjoy and collect candles to decorate their homes. Last year its net sales totalled $90,500 with $7,761 in taxes. The value of the candles it sold was $42,300. The only expenses that the operation has are salaries to the owner and one part-time assistant for $27,000, administrative expenses of $400, and utilities at $900. Calculate the net profit after tax for The Good Light.

A. $12,139 B. $21,142 C. $27,661 D. $54,200 E. $10,073

39. A store that sells bath oils, natural sponges, and other related items has an average retail inventory of $15,000. Its net sales for last year were $62,000, total assets were $500,000 and its net profit was $9,000. Calculate the retailer's inventory turnover. A. 33.33 B. 8.06 C. 4.13 D. 6.89 E. 24.2