Valdovinos Corporation Has Provided the Following Data The Company's Net Profit Margin Percentage Is Closest To:
A)38

Valdovinos Corporation has provided the following data: $$\begin{array} { | l | r | } \hline \text { Sales (all on account) } & \$ 1,150,000 \\\text { Gross margin } & \$ 440,000 \\\hline \text { Net operating income } & \$ 40,077 \\\hline \text { Net income before taxes } & \$ 23,077 \\\hline \text { Net income } & \$ 15,000 \\\hline\end{array}$$ The company's net profit margin percentage is closest to:

A) 38.3%
B) 3.5%
C) 1.3%
D) 2.0%