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A firm has annual sales of $338024. Earnings before interest and taxes is equal to 5.86 percent of sales. For the period, the firm paid $5728 in interest. What is the profit margin (in percent) if the tax rate is 27 percent? Answer to two decimals. 0.3aal to S80% of sales Snles 238 2 Earamny esone taxes 14Oso.an .taxa loats.SS06 10278, SS067 328024 =

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Answer #1
EBIT($338024*5.86%) $19808.2064
Less:interest ($5728)
EBT $14080.2064
Less:tax@27%($14080.2064*27%) ($3801.655728)
Net income $10278.55067

Hence profit margin=net income/sales

=$10278.55067/$338024

=3.04%(Approx).

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