Accelerated Logistics Provides the Following Information What Is the Company's Profit Margin Ratio? (Round Your Answer

Multiple Choice

Accelerated Logistics provides the following information: $$\begin{array} { | l | r | } \hline \text { Operating income } & \$ 1,600,000 \\\hline \text { Net sales } & \$ 14,000,000 \\\hline \text { Average total assets } & \$ 1,900,000 \\\hline \text { Management's target rate of return } & 20 \% \\\hline\end{array}$$ What is the company's profit margin ratio? (Round your answer to two decimal places.)

A) 13.57%
B) 11.43%
C) 84.21%
D) 1.10%