A company's gross profit (or gross margin) was $117,000 and its net sales were $390,000. Its gross margin ratio is: Multiple Choice 10%. 30%. 93%. $116,750. $271,050. The following information is available for Birch Company at December 31: Cash in registers Investment maturing in 9 years Accounts receivable $ 2,970 $ 16,800 $ 1,925 Cash in bank account Accounts payable Cash in petty cash fund Inventory of postage stamps U.S. Treasury bill maturing in 15 days $ 24,231 $ 830 $ 380 $ 36 $ 11,800 Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of: Multiple Choice $42,136 $56,181 $40,476 $39,381 $44,417