Consider the following facts for Company A: Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit.

What is the profit margin for Company A?

a. 68%

b. None of these answers are correct

c. 51%

d. 28.2%

e.115%

Assets Cash and short-term investments Accounts receivable (net) Inventory Property, plant and equipment $ 45,000 25,000 20,000 310,000 Total Assets Liabilities and Stockholders' Equit Current liabilities Long-term liabilities Stockholders' equity-common $ 50,000 90,000 260,000 Total Liabilities and Stockholders' Equity Income Statement Sales Cost of goods sold Gross profit Operating expenses $ 300,000 66,000 234,000 30,000 Net income Number of shares of common stock Market price of common stocK Dividends per share 6,000 $20 50