NL Inc

Balance sheet information

as of 12/31/2021

Assets

Cash = $17,050

A/R = $73,400

Inventories = $8,500

Total Current assets = $98,950

Property Plant and Equipment = $14,250

Total Assets = $113,200

Liabilities

A/P $25,000

Other current liabilities. $37,500

Long term debt. $54,500

Total liabilities = $117,000

Group of answer choices

.97

1.58

.85

3.96

using this info, calcate the gross margin %. if needed round to nearest tenth

Using the information below, calculate the gross margin % (if necessary, round to the nearest tenth)

NL Inc.

Income Statement information

the period ending 12/31/2021

Sales = $1,204,535

Cost of Goods Sold = $961,360

Selling, general and Admin exp. = $203,816

Earning from Operations = $1,369,416

Group of answer choices

79.8%

20.2%

3.3%

113.7%

None of the above