Anthony Thomas Candies (ATC) reported the following financial data for 2018 and 2017 2018 Sales Sales returns and allowances Net sales Cost of goods sold: $320,000 285,000 5,300 $312,200 $279,700 7,800 3:36:40 Inventory, January1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold 23,000 144,000 144,000 205,000 167,000 61,000 106,000 $165,200 $173,700 pped 61,000 58,000 147,000 Gross profit ATC's gross profit ratio (rounded) in 2018 is: (Round your answer to one decimal place e.g.012 Multiple Choice 52.9%. 573%