REVIEW: Use the following to answer questions 28 - 32 The company reports the following income statement results: Gross profit Interest expense Sales discounts Net Sales Operating expense Effective tax rate 28. $ 29. S 30. S 31. 32. $500,000 15,000 8,000 990,000 365,000 18% Calculate Sales. Calculate Income before Income tax (IBT). Calculate net income. % Calculate the gross profit margin (one decimal place) % Calculate the profit margin (two decimal places)

REVIEW: Use the following to answer questions 2832 The company reports the following income statement results: 28. $ Calculate Sales. 29. $ Calculate Income befoce Income tax (IBT). 30. $ Calculate net income. 31. % Calculate the gross profit margin (one decimal place) 32. \% Calculate the profit margin (two decimal places)