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Ranieri Corp. reported the following 2007 income statement: Sales 93,000 Cost of sales 24,500 SG & A 32,400 Interest expense 800 Other income 1,400 Income

Ranieri Corp. reported the following 2007 income statement:

Sales 93,000 Cost of sales 24,500 SG & A 32,400 Interest expense 800 Other income 1,400 Income taxes 14,680 Net income 22,020 Ranieri s core operating margin in 2007 was? (Please consider to show calculation working)

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