Refer to the 2020 income statement and balance sheet for the Glasstrac Products, Inc. which appear below. What is the firm's (net) profit margin? Don't forget to round your answer to the same number of decimal places as the answer options. Glasstrac Products, Inc. Balance Sheet Cash Receivables Inventory Total Current Assets Net Fixed Assets Total Assets 12/31/2020 56,000 175,000 227,000 454,000 946,000 1,400,000 Accounts Payable Notes Payable Total Current Liabilities Long-term Debt Com. Stock & Paid in Surplus Retained Earnings Total Liabilities & Equity 175,000 109,000 284,000 452,000 302,000 362,000 1,400,000 Income Statement 12/31/2020 Sales Cost of Sales Gross Profit Other Expenses EBIT Interest Expense EBT Taxes (40%) Net Income 1,625,000 895,000 730,000 512,000 218,000 42,000 176,000 70,400 105,600 Dividends Additions to Ret. Earn. 42,240 63,360 Select one: a. .233