Refer to the information regarding Hoosier Buddy as shown in Exercise 16-36.

Required:

Calculate the return on sales (round the answer to two decimal places).

Exercise 16-36

Sales $11,300,000
Cost of goods sold 3,000,000
Gross margin $ 8,300,000
Operating expenses 3,800,000
Operating income $ 4,500,000
Interest expense 1,000,000
Net income before taxes $ 3,500,000
Income taxes 1,400,000
Net income $ 2,100,000