Olivera Ltd Provides the Following Data for the Year 2016

Multiple Choice

Olivera Ltd provides the following data for the year 2016: $$\begin{array} { | l | l | } \hline \text { Sales revenue } & \$ 629,000 \\\hline \text { Sales returns and allowances } & 20,000 \\\hline \text { Sales discounts } & 6000 \\\hline \text { Net sales revenue } & \$ 603,000 \\\hline \text { Cost of sales } & \$ 390,000 \\\hline\end{array}$$ On a vertical analysis report,the gross profit as a percentage of net sales will be:

A) 35.32%
B) 33.86%
C) 36.32%
D) 64.68%