REVIEW: Use the following to answer questions 2832 The company reports the following income statement results

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 $500,000 15,000 8,000 990,000 365,000 18% Calculate Sales. 28. 29. 30. 31. 32. Calculate Income before Income tax (IBT). Calculate net income. % Calculate the gross profit margin (one decimal place) % Calculate the profit margin (two decimal places)