The Poole Company reported the following income for Year 2:Sales$30,000 Cost of goods sold 8,000 Gross margin$22,000 Selling and administrative expense 10,000 Operating income$12,000 Interest expense 4,000 Income before taxes$8,000 income tax expense 2,500 Net income$5,500 What is the company's net margin? (Rounded to the nearest whole percent.)
A. 27%
B. 18%
C. 73%
D. 40%
Answer: B
Business
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