The Following Amounts Were Taken from the Financial Statements of Ando

Multiple Choice

The following amounts were taken from the financial statements of Ando Company:
2017 2016
Total assets $800,000 $1,000,000
Net sales 720,000 650,000
Gross profit 352,000 320,000
Net income 108,000 117,000
Weighted average number of
Common shares outstanding 90,000 90,000
Market price of common stock $42 $39
The profit margin ratio for 2017 is

A) 14%.
B) 16%.
C) 15%.
D) 18%.