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: $$\begin{array} { | l | r | } \hline \text { Operating income } & \$ 1,500,000 \\\hline \text { Net sales } & \$ 14,000,000 \\\hline \text { Average total assets } & \$ 2,000,000 \\\hline \text { Management's target rate of return } & 30 \% \\\hline\end{array}$$ What is the company's profit margin ratio? (Round your answer to two decimal places.)

A) 14.29%
B) 10.71%
C) 75.00%
D) 27.90%