Tulsa Corporation reported the following data:

|Freight in |$20,000

|Sales returns |$10,000

|Purchases |205,000

|Purchase returns |6,000

|Beginning inventory |50,000

|Sales revenue |490,000

|Purchase discounts |4,000

|Ending inventory |40,000

Tulsa's gross profit percentage is:

a. 47.9%.

b. 52.1%

c. 53.1%.

d. 54.0%.

Do not copy from Chegg and give a complete answer with an explanation