I need accounting question answer A company earned $3,000 in net income for October. Its net sales forOctober were $10,000.Its profit margin is:A. 3%.B. 30%.C. 33%.D. 333%.E. $7,000.

Step 1: Define Calculating Profit MarginThe profit margin represents the net income of an entity…

Answered: A company earned $3,000 in net income…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company earned $3,000 in net income for October. Its net sales for October were $10,000. Its profit margin is: A. 3%. B. 30%. C. 33%. D. 333%. E. $7,000.