Excerpts from Stealth Company’s December 31, 2021 and 2020, financial statements are presented below:
| 2021 | 2020 | ||||||||||
| Accounts receivable | $ | 40,000 | $ | 36,000 | |||||||
| Inventory | 28,000 | 35,000 | |||||||||
| Net sales | 190,000 | 186,000 | |||||||||
| Cost of goods sold | 114,000 | 108,000 | |||||||||
| Total assets | 425,000 | 405,000 | |||||||||
| Total stockholders’ equity | 240,000 | 225,000 | |||||||||
| Net income | 32,500 | 28,000 | |||||||||
Stealth Company’s 2021 profit margin is: (Round your answer to 1 decimal place.)
