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Dr. Zhivago Diagnostics Corporation's income statement for 20X1 is as follows: Sales...

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Accounting

Dr. Zhivago Diagnostics Corporation's income statement for 20X1 is as follows:
Sales $ 2,750,000
Cost of goods sold 2,030,000
Gross profit $ 720,000
Selling and administrative expense 325,000
Operating profit $ 395,000
Interest expense 54,600
Income before taxes $ 340,400
Taxes (30%)102,120
Income after taxes $ 238,280
Compute the profit margin for 20X1.

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