Local Co. has sales of $ 10.3$10.3 million and cost of sales of $ 6.3$6.3 million. Its? selling, general and administrative expenses are $ 550 comma 000$550,000 and its research and development is $ 1.1$1.1 million. It has annual depreciation charges of $ 1.2$1.2 million and a tax rate of 35 %35%.
a. What is? Local's gross? margin?
b. What is? Local's operating? margin?
c. What is? Local's net profit? margin?