REVIEW: Use the following to answer questions 28 32

T&JR Corp reports the following income statement results:

Gross profit	$302,325
Interest expense	2,000
Sales discounts	10,250
Net Sales	695,500
Operating expense	210,525
Effective tax rate	20%

28. $____________Calculate Sales.

29. $____________Calculate Income before Income tax (IBT).

30. $____________Calculate net income.

31. ___ ___.___% Calculate the gross profit margin (one decimal place)

32. __ __. __ __ % Calculate the profit margin (two decimal places)