Please calculate Gross Profit Ratio of The Clothing Outlet, Inc. for the year ended December 31, 2016. Thanks

Balance Sheet

Clothing Outlet, Inc. Multiple-step Income Statement for the year-ended December 31, 2016 : Particulars Amounts Amounts Sales 220,000,000 Less: Cost of goods sold 52,800,000 Gross Profit 167,200,000 Less: General and administrative expenses Executive and administrative salaries 12,700,000 Utilities expense 4,200,000 Rental expense 800,000 Depreciation expense: buildings 500,000 Total General and administrative expenses 18,200,000 Less: Selling expenses Sales salaries and commissions 18,000,000 Insurance expense 5,600,000 Advertising expense 8,500,000 Utilities expense 7,000,000 Depreciation expense: equipment 600,000 Delivery expense 700,000 Total selling expenses 40,400,000 Operating Income 108,600,000 Add/(Less) Other revenues and expenses) :- Interest revenue 1,500,000 (5,200,000) Interest expense Total net other revenues and expenses) Income before income taxes Less: Income tax expense Net Income (3,700,000) 104,900,000 (39,862,000) 65,038,000 Amounts Clothing Outlet, Inc. Balance Sheet as at December 31, 2016: Assets Current Assets : Cash Accounts receivable Inventory Marketable securities Prepaid insurance Total Current Assets Amounts Liabilities and Shareholders Equity Current Liabilities: 2,638,000 Accounts Payable 5,000,000 Income taxes Payable 6,000,000 Salaries Payable 20,000,000 Dividends Payable 2,400,000 Interest Payable 36,038,000 Unearned revenue Total Current Liabilities 10,000,000 6,000,000 4,000,000 3,000,000 500,000 700,000 24,200,000 Non-Current Assets: Long term investments : Investments Total Long term investments 4,100,000 8,000,000 12,100,000 36,300,000 Property, Plan and Equipment:- Land Equipment Less: Accumulated depreciation - equipment Building Less: Accumulated depreciation - building Total Property, Plan and Equipment Non-Current Liabilities: 4,000,000 Notes Payable 4,000,000 Bonds Payable Total Non-Current Liabilities Total Liabilities 6,000,000 50,000,000 (8,000,000) Shareholders Equity :- 52,700,000 Common Stock (15,000,000) Retained earnings 85,700,000 Total Shareholders Equity :- 21,000,000 68,438,000 89,438,000 Total Assets 125,738,000 Total Laibilities & Sharehodlers Equity 125,738,000