The following amounts appeared in the adjusted trial balance of Laurier Inc. for the year Sales revenue credit balance of $ 88000 Deferred revenue - credit balance of $ 19000 Sales discounts - debit balance of $ 8000
Cost of Sales debit balance of $ 38000 Sales returns and allowances debit balance of $ 1000 Interest expense debit balance of $ 7600 Calculate gross profit/margin for the year.