Problem 1-3 (Static) Consider the following financial data from the past year for Midwest Outdoor Equipment Corporation. Annual sales Net income Cost of goods sold Total assets Inventory Receivables a. Compute the profit margin. $24,324,000 2,975,000 12,600,000 10,550,000 2,875,000 3,445,000 Note: Round your answer to 3 decimal places. Profit margin 0.282 x