A company had net income of $40,000, net sales of $300,000, and total assets of $200,000. Its profit margin and total asset turnover were respectively: a) 13.3%; 0.2. b) 13.3%; 1.5. c) 2.0%; 1.5. d) 1.5%; 0.2. e) 1.5%; 13.3.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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A company had net income of $40,000, net sales of
$300,000, and total assets of $200,000. Its profit
margin and total asset turnover were respectively:
a) 13.3%; 0.2.
b) 13.3%; 1.5.
c) 2.0%; 1.5.
d) 1.5%; 0.2.
e) 1.5%; 13.3.
Transcribed Image Text:A company had net income of $40,000, net sales of $300,000, and total assets of $200,000. Its profit margin and total asset turnover were respectively: a) 13.3%; 0.2. b) 13.3%; 1.5. c) 2.0%; 1.5. d) 1.5%; 0.2. e) 1.5%; 13.3.
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