Last$$year$,$ the P$.$M$.$Postem Corporation had sales of $$$$400,000,$ with a cost of goods sold of $$$$112,000.$ The$$firm$\text{'}$s operating expenses were $$130,000,$ and its increase in retained earnings was $$$$89,620.$ There are currently $22,000$ shares of common stock$$outstanding$,$ the firm pays a $$$$1\mathrm{.}60$ dividend per$$share$,$ and the firm has no$$interest$-$bearing debt.

a$.$ Assuming the$$firm$\text{'}$s earnings are taxed at $21\%,$ construct the$$firm$\text{'}$s income statement.

b$.$ Compute the$$firm$\text{'}$s operating profit margin.