Psymon Company, Inc., sells construction equipment. The annual fiscal period ends on December 31. The following adjusted trial balance was created from the general ledger accounts on December 31:

Account Titles	Debits				Credits
Cash	$	63,000
Accounts Receivable		26,000
Inventory		95,000
Property and Equipment		70,000
Accumulated Depreciation					$	29,400
Accounts Payable						44,000
Common Stock						130,000
Retained Earnings, January 1						15,600
Sales Revenue						251,000
Cost of Goods Sold		146,000
Salaries and Wages Expense		25,000
Office Expenses		26,000
Interest Expense		4,000
Income Tax Expense		15,000
Totals	$	470,000			$	470,000

2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage