Garrott Corporation's Total Assets Were $1,505,000 at the End of Year

Multiple Choice

Garrott Corporation's total assets were $1,505,000 at the end of Year 2 and $1,520,000 at the end of Year 1. Its total stockholders' equity was $1,197,000 at the end of Year 2 and $1,180,000 at the end of Year 1. The company's gross margin percentage for Year 2 is closest to:

A) 4.9%
B) 61.4%
C) 38.1%
D) 2031.9%