NL Inc
Balance sheet information
as of 12/31/2021
Assets
Cash = $17,050
A/R = $73,400
Inventories = $8,500
Total Current assets = $98,950
Property Plant and Equipment = $14,250
Total Assets = $113,200
Liabilities
A/P $25,000
Other current liabilities. $37,500
Long term debt. $54,500
Total liabilities = $117,000
Group of answer choices
.97
1.58
.85
3.96
Using the information below, calculate the gross margin % (if necessary, round to the nearest tenth)
NL Inc.
Income Statement information
the period ending 12/31/2021
Sales = $1,204,535
Cost of Goods Sold = $961,360
Selling, general and Admin exp. = $203,816
Earning from Operations = $1,369,416
79.8%
20.2%
3.3%
113.7%
None of the above
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