Younis Corporation’s income statement appears below:
Income Statement Sales (all on account) $1,240,000 Cost of goodssold 780,000 Gross margin 460,000 Operating expenses 416,571 Netoperating income 43,429 Interest expense 14,000 Net income beforetaxes 29,429 Income taxes (30%) 8,829 Net income $20,600
The company’s net profit margin percentage is closest to:
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