Presented Below Is the Income Statement for Tiger Company The Gross Profit Rate for Tiger Company Is _____

Multiple Choice

Presented below is the income statement for Tiger Company. $\begin{array}{lr}\text { Sales only credit sales) } & \$ 1,606.0 \\\text { Less: Cost of goods sold } & \underline{1,062.0} \\\text { Gross profit } & \$ 544.0 \\\text { Less: Operating expenses } & 322.0 \\\text { Operating income } & \$ 222.0 \\\text { Less other expense: Interest } & 9.6 \\\text { Income before tax } & \$ 212.4 \\\text { Less: Income tax expense } & 85.0 \\\text { Net income } & \$ 127.4\end{array}$ The gross profit rate for Tiger Company is _____.

A) 51.2%
B) 13.8%
C) 23.4%
D) 33.9%