Shown below is selected Information from the financial statements of Supreme Company. Dollar amounts are in millions (except for the per share data). Income statement information: Net sales Cost of goods sold Operating expenses Net income Balance sheet information: Multiple Choice Average total equity 2,600 4,200 Average total assets Supreme reported earnings per share for the year of $3 and paid cash dividends of $3 per share. At year-end, the Wall Street Journal listed the company's common stock as trading at $90 per share. The company's gross profit rate was: 22.83% 58.27% 41.73% $ 1,270 $ 530 $ 450 $ 410 32.28% $ $ B

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