Refer to the following selected financial information from Hansen's, LLC. Compute the company's profit margin for Year 2.
Year 2 Year 1
Net sales $ 478,500 $ 426,250
Cost of goods sold 276,300 250,120
Interest expense 9,700 10,700
Net income before tax 67,250 52,680
Net income after tax 46,050 39,900
Total assets 317,100 288,000
Total liabilities 181,400 167,300
Total equity 135,700 120,700
33.9%.
9.6%.
14.0%.
16.7%.
11.6%.