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Assume the Residential Division of Krandell Faucets had the following results last year: Net sales revenue $ 3,360,000 Operating income 1,344,000 Average total assets 5,600,000 Management's target rate of return 14% What is the division's profit margin ratio? ..... O A. 24% O B. 40% O C. 60% O D. 250%

Assume the Residential Division of Krandell Faucets had the following results last year: Net sales revenue $ 3,360,000 Operating income 1,344,000 Average total assets 5,600,000 Management's target rate of return 14% What is the division's profit margin ratio? ..... O A. 24% O B. 40% O C. 60% O D. 250%

FINANCIAL ACCOUNTING
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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Assume the Residential Division of Krandell Faucets had the following results last year: Net sales revenue $ 3,360,000 Operating income 1,344,000 Average total assets 5,600,000 Management's target rate of return 14% What is the division's profit margin ratio? ..... O A. 24% О в. 40% О с. 60% O D. 250% CS Scanned with CamScanner
Transcribed Image Text:Assume the Residential Division of Krandell Faucets had the following results last year: Net sales revenue $ 3,360,000 Operating income 1,344,000 Average total assets 5,600,000 Management's target rate of return 14% What is the division's profit margin ratio? ..... O A. 24% О в. 40% О с. 60% O D. 250% CS Scanned with CamScanner
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