Use these financial statements for a manufacturing company to answer the following questions. Use the effective tax rate for tax effects and assume cash is 75% operating assets and 25% financing assets. Round all answers to two decimal places and input percentages as decimals, e.g. 35% as 0.35. Income statement 2020 Balance sheet 12/31/19 Sales 850 Cash 275 Cost of goods sold (300) Inventory 130 SG&A expense (120) Accounts receivable 100 Interest income 10 PP&E 770 Interest expense (25) Accounts payable (225) Income tax expense (111) Notes payable (350) Net income 304 Owner's Equity 700 Question 5 Calculate profit margin (PM) 1 pts