Cintas Corporation is the largest uniform supplier in North America. Selected information from its annual report follows. For the 2016 fiscal year, the company reported sales revenue of $4.9 billion and Cost of Goods Sold of $2.1 billion. Fiscal Year 2016 2015
Balance Sheet (amounts in millions)
Cash and Cash Equivalents $210 $435
Accounts Receivable, net 560 500
Inventory 250 230
Prepaid Rent and Other Current Assets 570 570
Accounts Payable 115 110
Salaries and Wages Payable 100 90
Notes Payable (short-term) 250 0
Other Current Liabilities 350 310

Required:
a. Calculate Dollar General’s net sales and cost of goods sold.
b. Compute the gross profit percentage.
c. Is this an improvement from the gross profit percentage of 30.7 percent earned during the previous year?