Consider the following financial data for Leons Computer Stores:

Statement of Financial Position as of December 31, 2012

Cash & equivalents	$	68,500		Accounts payable	$	75,500
Receivables		107,500		Notes payable		148,000
Inventories		159,500		Accruals		91,000
Total current assets	$	335,500		Total current liabilities	$	314,500
				Long-term debt		298,500
Net fixed assets		471,500		Common equity		194,000
Total assets	$	807,000		Total liabilities & equity	$	807,000

Profit & Loss Statement for the Year Ended December 31, 2012

Net sales	$	609,500
Cost of sales		376,000
Gross profit	$	233,500
Operating expenses		135,000
Earnings before interest and taxes (EBIT)	$	98,500
Interest expense		22,500
Earnings before taxes (EBT)	$	76,000
Federal and state income taxes (35 percent)		26,600
Net earnings	$	49,400

Calculate Leons net profit margin.