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REVIEW: Use the following to answer questions 28 -32 T&JR Corp reports the following income statement results: Gross profit Interest expense Sales discounts Net Sales

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REVIEW: Use the following to answer questions 28 -32 T&JR Corp reports the following income statement results: Gross profit Interest expense Sales discounts Net Sales Operating expense Effective tax rate $373,600 2,000 12,000 800,000 291,000 20% 28. $_ _Calculate Sales. Calculate Income before Income tax (IBT). 29. $ 30. $__ Calculate net income. % Calculate the gross profit margin (one decimal place) -:--% Calculate % Calculate the profit margin (two decimal places)

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