Panhead’s Bike Shop had net sales of $382,500 and the cost of goods sold were $172,300. Operating expenses were $107,645 and owner's equity is $437,645. Calculate the net profit margin. (Round to the nearest tenth) 40.4% 34.8% 26.8% 22.8%
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Panhead’s Bike Shop had net sales of $382,500 and the cost of goods sold were $172,300. Operating expenses
were $107,645 and owner's equity is $437,645. Calculate the net profit margin. (Round to the nearest tenth)
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