Excerpts from Nationwide Company's December 31, 2024 and 2023, financial statements are presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity 2024 2023 $87,000 $77,000 89,000 78,000 430,000 376,000 259,000 224,000 840,000 795,000 480,000 430,000 79,000 55,000 Net income What is the gross profit ratio for 2024? (Round your answer to one decimal place.) 55,000 What is the gross profit ratio for 2024? (Round your answer to one decimal place.) Multiple Choice 44.8% 48.8% 60.2% 39.8% D