Required information [The following information applies to the questions displayed below.] Psymon Company, Incorporated, 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 Cash Accounts Receivable Inventory Property and Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings, January 1 Sales Revenue Cost of Goods Sold Salaries and Wages Expense Office Expense Interest Expense Income Tax Expense Totals Debits $ 42,000 18,000 Credits 65,000 50,000 $21,000 30,000 90,000 11,600 167,000 98,000 17,000 18,000 2,000 9,600 $319,600 $319,600 2. Compute the gross profit percentage. (Round your answer to 1 decimal place.)