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 $ 42,000 18,000 Cash Accounts Receivable Inventory Property and Equipment Accumulated Depreciation 65,000 50,000 $ 21,000 Accounts Payable 30,000 90,000 11,600 167,000 Common Stock Retained Earnings, January 1 Sales Revenue Cost of Goods Sold 98,000 17,000 Salaries and Wages Expense Office Expenses 18,000 Interest Expense Income Tax Expense 2,000 9,600 $319,600 $319,600 Totals 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.) Gross Profit Percentage %