Kurtz Logistics Provides the Following Information What Is the Company's Profit Margin Ratio?
A) 13

Multiple Choice

Kurtz Logistics provides the following information: $$\begin{array} { | l | r | } \hline \text { Operating income } & \$ 1,550,000 \\\hline \text { Net sales } & \$ 15,000,000 \\\hline \text { Average total assets } & \$ 1,950,000 \\\hline \text { Management's target rate of return } & 30 \% \\\hline\end{array}$$ What is the company's profit margin ratio?

A) 13.0%
B) 10.3%
C) 79.5%
D) 27.9%