***** I NEED HELP WITH C. NET MARGIN

I THOUGHT THAT NET MARGIN = NET INCOME (NET SALES - TOTAL OPERATIN EXPENSES) / NET SALES

= (2,400,000 - 1,810,000) - 2,400,000 = .2458 * 100 = 24.6%

NOT SURE WHAT MISTAKE I DID.. PLEASE HELP!

Selected data from Emporia Company follow: Balance Sheets As of December 31 2018 $600,000 $480,000 (40,009)(20,008) 560,000 $460,000 $500,000 $400,000 2017 Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Income Statement For the Years Ended December 31 2018 $2,400,000 2017 $1,950,000 Net credit sales Net cash sales Net sales Cost of goods sold Selling, general, and administrative expenses Other expenses Total operating expenses 600,000450,90 2,400,0e0 1,520,000 3,000,000 1,800,00e530 300,000 240,000 80,00050:00 $2,180,000 $1,810,000 Required