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

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.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

I need accounting question answer

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.

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