Question: Li Retailing reported the following items for the current year: Sales = $5,000,000; Cost of Goods Sold = $2,250,000; Depreciation Expense = $250,000; Administrative Expenses

Li Retailing reported the following items for the current year: Sales = $5,000,000; Cost of Goods Sold = $2,250,000; Depreciation Expense = $250,000; Administrative Expenses = $200,000; Interest Expense = $45,000; Marketing Expenses = $100,000; and Taxes = $400,000;

Compute Li's operating profit margin

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