Excerpts from Nationwide Company's December $31,2024$ and $2023,$ financial statements are presented below:

$20242023$

Accounts receivable $$85,000$ $$79,000$

Inventory $95,00080,000$

Net sales $470,000378,000$

Cost of goods sold $262,000222,000$

Total assets $820,000780,000$

Total stockholders' equity $480,000460,000$

Net income $78,00054,000$

What is the profit margin for $2024?($Round your answer to one decimal place.$)$

Multiple Choice

$3\mathrm{.}0\%$

$16\mathrm{.}6\%$

$9\mathrm{.}8\%$

$1\mathrm{.}4\%$