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Given below are account balances for Charlie Company: Gross sales, $94,000 Sales returns and allowances, $6,000 Selling expenses, $12,000 Cost of goods sold, $44,000 Interest

Given below are account balances for Charlie Company:

Gross sales, $94,000

Sales returns and allowances, $6,000

Selling expenses, $12,000

Cost of goods sold, $44,000

Interest expense, $3,000

How much is the gross profit margin? (enter your percentage as a decimal rounded to two decimal places. Example - enter 46% as .46)

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