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Younis Corporations income statement appears below:Income StatementSales (all on account)$ ...

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Younis Corporations income statement appears below:Income StatementSales (all on account)$ ...

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:

▸ 37.1%

▸ 3.5%

▸ 2.4%

▸ 1.7%

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

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