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5. Yolo Corporations income statement appears below: Income Statement Gross margin........................ 340,000 Gross margin % Operating expenses.............. 20% Net operating income............ 43,429 Interest expense.................... 14,000

5. Yolo Corporations income statement appears below:

Income Statement

Gross margin........................

340,000

Gross margin %

Operating expenses..............

20%

Net operating income............

43,429

Interest expense....................

14,000

Net income before taxes.......

29,429

Income taxes (20%)...............

5,886

Net income...........................

$ 23,543

What would be Yolo corporations net profit margin percentage?

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