0016.67%25.00%400.00%600.00%13A company reported net sales revenue of $6,000,000 for the year ending December 31, 2018, and $8,000,000 for the year ending December 31, 2019. Net income was $1,000,000 for the year ending December 31, 2018, and$2,000,000 for the year ending December 31, 2019.What was the company's profit margin on sales for the year ending December 31, 2019?

Profit margin on sales is calculated by dividing the net income by the sales revenue and multiplying…

Answered: 00 16.67% 25.00% 400.00% 600.00% 13 A…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 57BE

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