Use the following information from Mountaineers Mania Corporation's income statement to calculate the company's 2012 profit margin on sales ratio.

20.0%

5.0%

7.7%

13.3%

Mountaineers Maria Income Statement For the Month Ended December 31, 2012 Revenyes Cost of goods sold Rent Utilities Salaries Depreciation Net income (loss) $220,000 140,000 30,000 15,000 18,000 6,000 $11,000 Cash Prepaid rent Equipment Total assets Mountaineers Mania Balance Sheet December 31, 2012 $61,200 Accounts Payable 21,600 Common stock 60,000 Retained earnings $142,800 Total liabilities & SE $30,000 30,000 82,800 $142800