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Victory's Companies, a home improvement store chain, reported the following summarized figures: (Click the icon to view the income statement.) (Click the icon to view the balance sheets.) Victory's has 20,000 common shares outstanding during 2024. Read the requirements. Requirement 1. Compute the profit margin ratio for Victory's Companies for 2024. Begin by selecting the formula to calculate Victory's Companies' profit margin ratio. Then enter the amounts and calculate the profit margin ratio for 2024. (Round your answer to one tenth of a percent, X.X%.) Victory's Companies Income Statement Years Ended May 31, 2024 and 2023 \begin{tabular}{lrrr} & \multicolumn{2}{c|}{2024} & \multicolumn{2}{c}{2023} \\ \cline { 2 - 4 } Net Sales Revenue & $ & 40,900 & $8,800 \\ \hline Cost of Goods Sold & 20,600 & 21,400 \\ \hline Interest Expense & 200 & 140 \\ \hline All Other Expenses & 7,500 & 8,400 \\ \hline Net Income & $ & 12,600 & $,860 \\ \hline \hline \end{tabular} Print Done