Calculate the Gross Profit Margin given the following data:

Time left $0$:$51$:$36$

XYZ Company Income Statement

For the Year Ended December $31,2023$

Revenue

Cost of Goods Sold $($COGS$)$ $$210,000$

Gross Profit

$$340,000$

Operating Expenses:

Selling and Admin Expense $$90,000$

Depreciation Expense $$25,000$

Total Operating Expenses $$115,000$

Operating Income $$225,000$

Interest Expense

Income Before Taxes

Net Income

$$100,000$

$$150,000$

$$100,000$

Shareholders Equity

Common Stock $$80,000$

Retained Earnings $$150,000$

Total Shareholders

Equity

$$230,000$

Total Liabilities &

Shareholders Equity

$$75,000$

Accounts Receivable $$80,000$ Inventory $$120,000$

Total Current Assets $$275,000$

Property, Plant, &

Equipment

$$255,000$

Total Assets

$$530,000$

Liabilities

Accounts Payable $$75,000$

Short$-$Term Loans

Payable

$$35,000$

Total Current

Liabilities

$$110,000$

Long$-$Term Accounts

Payable

$$190,000$

Total Liabilities

$$300,000$

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Balance Sheet

As of December $31,2023$

XYZ Company

alance Sheet