Excerpts from Nationwide Company's December 31, 2024 and 2023, financial statements are presented below: 2024 2023 Accounts receivable $81,000 $75,000 Inventory 91,000 81,000 Net sales 500,000 382,000 Cost of goods sold 264,000 223,000 Total assets 835,000 780,000 Total stockholders' equity 505,000 420,000 Net income 72,000 58,000 What is the gross profit ratio for 2024? (Round your answer to one decimal place.) Multiple Choice 52.2%. 47.2%. 56.2%. 52.8%.