Use the following to answer questions $21-25$

The company reports the following amounts in its year$-$end income statement:

Net sales $$725,000$ Cost of goods sold $$300,000$

Advertising expense $100,000$ Sales discounts $3,000$

Utilities expense $20,000$ Salaries expense $200,000$

Effective income tax rate $15\%$ Interest expense $4,000$

$21.$ $$\_\_\_\_\_\_\_\_\_\_\_\_$Determine gross profit

$22.$ $$\_\_\_\_\_\_\_\_\_\_\_\_$Determine operating expenses

$23.$ $$\_\_\_\_\_\_\_\_\_\_\_\_$Determine Income tax expense

$24.\_\_\_\_\_\_.\_\_\_\%$ Calculate the gross profit ratio $($round to one decimal place$).$

$25.\_\_\_\_.\_\_\_\%$ Calculate the profit margin $($round to one decimal place$).$