The following is a listing of some of the balance sheet accounts and all of the income statement accounts for Northview Company as they appear on the company’s adjusted trial balance.
Accounts Payable $ 12,000
Accounts Receivable 22,000
Inventory 22,200
Advertising Expense 17,500
Cost of Goods Sold 133,000
Delivery Expense 7,100
Income Tax Expense 4,000
Insurance Expense 1,000
Rent Expense 16,400
Sales Revenue 270,000
Sales Discounts 9,900
Sales Returns & Allowances 35,500
Required:
A) The gross profit percentage would be closest to .

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.