Selected data from the Florida Fruit Company are presented below:

Total assets		$1,500,000
Average total assets		1,850,000
Net income		175,000
Net sales		1,300,000
Average common stockholders' equity		1,000,000
Net cash provided by operating activities		275,000

Assume that no dividends were declared or paid during the period. What is the profit margin? (be sure to show all work)