Younis Corporation's income statement appears below: Income Statement Sales (all on account) $1,240,000 Cost of...
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Younis Corporation's income statement appears below:
Income Statement Sales (all on account) $1,240,000 Cost of goods sold 780,000 Gross margin 460,000 Operating expenses 416,571 Net operating income 43,429 Interest expense 14,000 Net income before taxes 29,429 Income taxes (30%) 8,829 Net income $20,600
The company's net profit margin percentage is closest to:
A. 37.1%
B. 3.5%
C. 2.4%
D. 1.7%
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