The Following Amounts Were Taken from the Financial Statements of Leaf

The following amounts were taken from the financial statements of Leaf Company: $\begin{array}{lrr}&2017&2016\\\text { Total assets } & \$ 800,000 & \$ 880,000 \\\text { Net sales } & 720,000 & 650,000 \\\text { Gross profit } & 352,000 & 320,000 \\\text { Net income } & 126,000 & 117,000 \\\text { Weighted average number of common shares outstanding } & 90,000 & 90,000 \\\text { Market price of common stock } & \$ 35 & \$ 39\end{array}$ The profit margin ratio for 2017 is

A) 15.4%.
B) 44.9%.
C) 16.5%.
D) 10.7%.