Using the information given below, calculate the company's Gross Profit (Margin) Ratio (Common Size or Vertical Analysis) for the year.

Accounts Receivable (end of year)	75,000
Inventory	198,000
Prepaid Insurance	2,000
Accounts Payable (end of year)	47,200
Common Stock	35,000
Retained Earnings	175,000
Accounts Receivable (beginning of year)	70,800
Accounts Payable (beginning of year)	53,480
Inventory (beginning of year)	214,807
Sales	391,478
Cost of Goods Sold	265,872
Gross Profit	125,606
Net Income	34,825

Group of answer choices

67.91%

32.09%

8.90%

311.67%