Younis Corporation's Income Statement Appears Below The Company's Net Profit Margin Percentage Is Closest To:
A)

Multiple Choice

Younis Corporation's income statement appears below:
$\begin{array}{lr}\text { Income Statement }\\\text {Sales (all on account) }&\$1,240,000\\\text {Cost of goods sold }&780,000\\\text { Gross margin}&460,000\\\text {Operating expenses. }&416,571\\\text {Net operating income }&43,429\\\text {Interest expense }&14,000\\\text {Net income before taxes }&29,429\\\text {Income taxes (35\%) }&8,829\\\text {Net income }&\$20,600\\\end{array}$ The company's net profit margin percentage is closest to:

A) 37.1%
B) 3.5%
C) 2.4%
D) 1.7%