Excerpts from Dowling Company's December 31, 2024 and 2023, financial statements and key ratios are presented below (all dollar values are in millions): 2024 2023 Accounts receivable (net) $ 27 $ 23 Net sales $ 122 $ 107 Cost of goods sold $ 67 $ 62 Net income $ 27 $ 24 Inventory turnover 5.55 Return on assets 10.40% Equity multiplier 2.43 Dowling's 2024 profit margin is closest to: Multiple Choice 22.1%. 22.9%. 21.8%. 21.5%