1 Dollar General reported stronger than typical earnings with annual sales of $2,000,000 per store for the prior year. Wages totaled $150,000 and were 8% higher than the prior year. The total costs of goods sold was $950,000 and did not include sales taxes of $25,000. At year end the company reported a net income to $230,000 per store. After changes for non-cash operating items the company cash flow was reported at $420,000 per store. Based on this data what was the company profit margin?
1 Dollar General reported stronger than typical earnings with annual sales of $2,000,000 per store for the prior year. Wages totaled $150,000 and were 8% higher than the prior year. The total costs of goods sold was $950,000 and did not include sales taxes of $25,000. At year end the company reported a net income to $230,000 per store. After changes for non-cash operating items the company cash flow was reported at $420,000 per store. Based on this data what was the company profit margin?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Dollar General reported stronger than typical earnings with annual sales of $2,000,000 per store for the prior year. Wages totaled $150,000 and were 8% higher than the prior year. The total costs of goods sold was $950,000 and did not include sales taxes of $25,000. At year end the company reported a net income to $230,000 per store. After changes for non-cash operating items the company
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