Peartree Ltd Provides the Following Extracts from Its Income Statement

Multiple Choice

Peartree Ltd provides the following extracts from its income statement for the year 2016: $$\begin{array} { | l | l | } \hline \text { Net sales } & \$ 560,000 \\\hline \text { Cost of sales } & ( 200,000 ) \\\hline \text { Gross profit } & \$ 360,000 \\\hline\end{array}$$ Calculate the gross profit percentage.

A) 64.29%
B) 100%
C) 35.71%
D) 45%