Question: Dr. Zhivago Diagnostics Corp.'s income statement for 20X1 is as follows: Sales Cost of goods sold Gross profit Selling and administrative expense Operating profit

Dr. Zhivago Diagnostics Corp.'s income statement for 20X1 is as follows: Sales

Dr. Zhivago Diagnostics Corp.'s income statement for 20X1 is as follows: Sales Cost of goods sold Gross profit Selling and administrative expense Operating profit Interest expense Income before taxes Taxes (30%) $2,880,000 2,130,000 $ 750,000 300,000 $450,000 52,100 $ 397,900 119,370 $ 278,530 Income after taxes a. Compute the profit margin for 20X1. (Input the profit margin as a percent rounded to 2 decimal places. Profit margin %

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