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Excerpts from Nationwide Company's December 31, 2024 and 2023, financial statements are presented below: 2024 2023 Accounts receivable $87,000 $74,000 Inventory 93,000 74,000 Net sales

Excerpts from Nationwide Company's December 31, 2024 and 2023, financial statements are presented below: 2024 2023 Accounts receivable $87,000 $74,000 Inventory 93,000 74,000 Net sales 420,000 374,000 Cost of goods sold 256,000 226,000 Total assets 810,000 785,000 Total stockholders' equity 500,000 450,000 Net income 73,000 54,000 What is the profit margin for 2024? (Round your answer to one decimal place.)

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