Lesmerises Corporation's Most Recent Balance Sheet and Income Statement Appear

Multiple Choice

Lesmerises Corporation's most recent balance sheet and income statement appear below: Dividends on common stock during Year 2 totaled $40 thousand. Dividends on preferred stock totaled $10 thousand. The market price of common stock at the end of Year 2 was $2.85 per share.
-The gross margin percentage for Year 2 is closest to:

A) 53.4%
B) 671.4%
C) 34.8%
D) 14.9%