Use the following example from Indian Springs GC to answer questions Sales $875,000 Gain on sale of equipment 15,000 Cost of goods sold 460,000 Operating expense 300,000 Sales returns & allowances 20,000 Income tax expense 36,300

Calculate Net sales ($xxx,xxx)

Calculate Gross Profit ($xxx,xxx)

Calculate operating income ($xx,xxx)

Calculate Income before Income tax (IBT) ($xxx,xxx)

Calculate Net income ($xx,xxx)

Calculate the net profit margin (two decimal places) ___.___ ___%