Missoula Inc. reported the following selected financial statement data: Cash Accounts receivable (net) Inventory Plant assets (net) Total assets Liabilities Shareholders' equity Net sales Cost of goods sold Net income Dec 31, 2020 $ 50,000 68,000 88,000 230,000 465,000 165,000 300,000 360,000 240,000 35,000 Dec 31, 2021 $ 62,000 92,000 92,000 258,000 435,000 165,000 270,000 440,000 320,000 36,960 Required: Compute the profit margin on sales for 2021. (Round your answer to 2 decimal places.) Profit margin on sales