Dr. Gupta Diagnostics Income statement for 20XX is as follows: Sales cont of goods sold...
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Dr. Gupta Diagnostics Income statement for 20XX is as follows: Sales cont of goods sold Gross profit Selling and administrative expanse Operating profit Inteceat expense $2,790,000 1,550,000 1.240,000 306,000 934,000 54,400 Income before taxes Taxes (301) 879.600 263,880 Income after taxes $615,720 a. Compute the profit margin in 20XX. (Round the final answer to 2 decimal places.) Profit margin b. Assume in 20XY sales increase by 10 percent and cost of goods sold increases by 20 percent. The firm is able to keep all other expenses the same. Once again, assume a tax rate of 30 percent. What are the income after taxes and profit margin in 20XY? (Round the profit margin to 2 decimal places.) 20XY Incone after taxes Profit margin
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