QUESTION $2$

Shown below are selected data from the financial statements of Noble Computers. $($Dollar amounts are in millions, except for the per share data.$)$

Income statement data:

Net sales

Cost of goods sold

Operating expenses

$$3,500$

Net income

$$1,890$

$$675$

$ $115$

Balance sheet data:

Average total equity

$$540$

Average total assets

$$4,400$

Noble's gross profit rate was:.

a$.46\%$

b$.20\%$

c$.18\%$

d$.33\%$