Practice Question 37 The following amounts were taken from the financial statements of Nicklaus Company: Total assets Net sales Gross profit Net income Weighted average number of common shares outstanding Market price of common stock 2017 $800,000 720,000 352,000 144,000 120,000 $36 2016 $1,000,000 650,000 320,000 117,000 120,000 $40 How much profit did Nicklaus Company generate out of each dollar of sales during 2017? O 15 cents or 15% 20 cents or 20% 10 cents or 10% 30 cents or 30%