Younis Corporation's income statement appears below:Income StatementSales (all on account)$1,240,000 Cost of goods sold 780,000 Gross margin 460,000 Operating expenses 416,571 Net operating income 43,429 Interest expense 14,000 Net income before taxes 29,429 Income taxes (30%) 8,829 Net income$ 20,600 The company's net profit margin percentage is closest to:
A. 37.1%
B. 1.7%
C. 3.5%
D. 2.4%
Answer: B
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