Review of the financial statements revealed the following for Hyde Inc.: sales $1,250,000, net income $37,500, total assets $650,000, long-term debt $750,000, interest expense $65,000 and cost of goods sold $775,000. What is the Hyde's gross profit margin closest to?

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The Answer of Review of the financial statements revealed the following for Hyde Inc.: sales $1,250,000, net income $37,500, total assets $650,000, long-term debt $750,000, interest expense $65,000 and cost of goods sold $775,000. What is the Hyde's gross profit margin closest to?

Review of the Financial Statements Revealed the Following for Hyde