Information from the Current Income Statement of Barnes Corp Follows

Short Answer

Information from the current income statement of Barnes Corp follows:
$\begin{array}{|l|r|}\hline \text { Sales } & \$ 800,000 \\\hline \text { Gross profit on sales } & 345,000 \\\hline \text { Operating income } & 80,000 \\\hline \text { Interest expense } & 32,000 \\\hline \text { Income before taxes } & 48,000 \\\hline \text { Profit } & 35,600 \\\hline\end{array}$ Calculate the profit margin.