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A consumer products company reported a 6.2 percent increase in sales from Year 1 to...

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Accounting

A consumer products company reported a 6.2 percent increase in sales from Year 1 to Year 2. Sales in Year 1 were $31,500. In Year 2, the company reported cost of goods sold in the amount of $10,407. What was the gross profit percentage in Year 2? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (i.e. 0.1234 should be entered as 12.34).)

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