Thompson TV and Appliance reported the following in its 2021 financial statements: 34 2021 $421,000 00:39:11 Sales Cost of goods sold: Inventory, January 1 Net purchases Goods available for sale Inventory, December 31 Cost of goods sold Gross profit 78,000 338,000 416,000 88,000 328,000 $ 93,000 Thompson's 2021 gross profit ratio is: (Round your answer to the nearest whole percentage.) Multiple Choice 25% None of these answer choices are correct. 20%. O 22%