Using the segmented income statements, what is the profit margin ratio for the bikes division(to the nearest tenth of a percent).Ashville Co. segmented income statements for the current fiscal year ending December 31: Bike sales $2,400,000.Cost of goods sold $1,400,000.Gross margin $1,000,000.Allocated overhead $270,000.Selling and administrative expenses $190,000. Operating income $540,000. Income tax expense (40%) $216,000. Net income $324,000?