Massa Company, which has been operating for three years, provides marketing consulting services worldwide for dot-com companies. You are a financial analyst assigned to report on the Massa management teams effectiveness at managing its assets efficiently. At the start of 2019 (its fourth year), Massa's T-account balances were as follows. Dollars are in thousands.

Transactions for 2019:

1. Provided $59,700 in services to clients who paid $48,100 in cash and owed the rest on account.
2. Received $6,300 cash from clients on account.
3. Received $420 in cash as interest revenue on investments.
4. Paid $35,100 in wages, $12,400 in travel, $6,800 in rent, and $1,400 on accounts payable.
5. Received $1,000 in cash from clients in advance of services Massa will provide next year.
6. Received a utility bill for $650 for 2019 services.
7. Declared and immediately paid $300 in dividends to stockholders.

Question: Calculate the net profit margin ratio for 2019. (Round your answer to 2 decimals)

Assets Liabilities Stockholders' Equity Revenues Expenses