On 1 January 2020, Jola Company Limited had goods in inventory valued at 20,000. During 2020, the company purchased supplies costing 56,000 and incurred operating expenses of 12,000. Sales revenue for the year to 31 December 2020 amounted to 92,000. At 31 December 2020, inventory was valued at 16,000.

What is Jolas net profit margin for the year ending 31^st December 2020, based on the information above?

Select one:

a. 22.7%

b. 27.5%

c. 21.7%

d. 27.2%