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Use the following selected 2019 balance sheet and income statement information for Homer Glen Supply Co. (in millions) to compute the gross profit percentage to

Use the following selected 2019 balance sheet and income statement information for Homer Glen Supply Co. (in millions) to compute the gross profit percentage to the nearest hundredth of a percent.

Net income

Gross profit

on sales

Average

total assets

Sales

Tax rate on operating profit

$104,940

$1,050,600

$631,050

$2,373,882

35%

Select one:

A. 4.42%

B. 44.26%

C. 28.76%

D. 8.56%

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