Booker Corporation had the following comparative current assets and current liabilities:

Dec. 31, 2017 Dec. 31, 2016

Current assets

Cash $ 60,000 $ 30,000

Short-term investments 40,000 10,000

Accounts receivable 55,000 95,000

Inventory 110,000 90,000

Prepaid expenses 35,000 20,000

Total current assets $300,000 $245,000

Current liabilities

Accounts payable $140,000 $110,000

Salaries payable 40,000 30,000

Income tax payable 20,000 15,000

Total current liabilities $200,000 $155,000

During 2017, credit sales and cost of goods sold were $750,000 and $400,000, respectively.

Compute the Gross Profit Percentage for 2017.

	a.	0.47
	b.	0.55
	c.	0.63
	d.	None of these