The following information pertains to The Concord Boutique Company. Assume that all balance sheet amounts represent both average and ending balance figures. Assume that all sales were on credit. Assets Cash and short-term investments $ 41000 Accounts receivable (net) 24000 Inventory 19000 Property, plant and equipment 212000 Total Assets $296000 Liabilities and Stockholders' Equity Current liabilities Long-term liabilities Stockholders' equity-common $ 62000 89000 145000 Total Liabilities and Stockholders' $296000 Equity Income Statement Income Statement Sales revenue $ 100000 Cost of goods sold 45600 Gross margin 54400 Operating expenses 19700 Net income $34700 Number of shares of common stock 6200 Market price of common stock $22 Dividends per share on common stock 0.9 Cash provided by operations $29700 What is the profit margin for this company? What is the profit margin for this company? 74.6% 28.6% 34.7% 23.5%