Multiple-Step Income Statement Gaynor Corporation’s partial income statement is as follows:
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,200,000
Cost of sales . . . . . . . . . . . . . . . . . . . . . . 450,000
Selling expenses . . . . . . . . . . . . . . . . . . . 60,800
General and administrative expenses . . . 75,000

Required
Determine the profit margin. Would you invest in Gaynor Corporation? Explain your answer.