A company reported the following financial data for the year: ⚫ Net Sales: $920,000 • Net Income: $78,000 What is the profit margin?

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A: ROE = Net Income / Equity   Net Income:Profit Margin = Net Income / SalesNet Income = Profit Margin…

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A: Step 1: Definition of Profit MarginProfit margin is a financial metric that measures the percentage…

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A: To determine the company's profit margin, we use the following formula: Profit Margin=(SalesNet…

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