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The income statement for Westbound Manufacturing is provided in the table below (all values are in million dollars): Gross sales 2,476 less Cost of goods
The income statement for Westbound Manufacturing is provided in the table below (all values are in million dollars): Gross sales 2,476 less Cost of goods sold: Labour 1,176 Raw materials 242 Production overhead 358 = Gross profit less Expenses on marketing 84 less General and administrative expenses 76 = Earning before interest and taxes less Interest expenses 23 = Earning before income taxes less Income tax (35%) = Net income Calculate the net profit margin on sales. (your answer must be rounded off to the nearest %, i.e., no decimal places)
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