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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

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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