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Calculate the profit margin ratio based on the following information: cash = $14,870; accounts receivable = $22,108; = $62,150; prepaid $3,010; supplies accumulated depreciation = = $927; equipment 13,750; accounts payable = $28,000; net sales = $325,000; interest expense = $6,000; tax expense = $12,600; earnings before interest and taxes = $122,623; no. of shares outstanding = 335,000. Round to two decimal places.

Calculate the profit margin ratio based on the following information: cash = $14,870; accounts receivable = $22,108; = $62,150; prepaid $3,010; supplies accumulated depreciation = = $927; equipment 13,750; accounts payable = $28,000; net sales = $325,000; interest expense = $6,000; tax expense = $12,600; earnings before interest and taxes = $122,623; no. of shares outstanding = 335,000. Round to two decimal places.

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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Calculate the profit margin ratio based on the following information: cash = $14,870; accounts receivable = $22,108; = $62,150; prepaid $3,010; supplies accumulated depreciation = = $927; equipment 13,750; accounts payable = $28,000; net sales = $325,000; interest expense = $6,000; tax expense = $12,600; earnings before interest and taxes = $122,623; no. of shares outstanding = 335,000. Round to two decimal places.
Transcribed Image Text:Calculate the profit margin ratio based on the following information: cash = $14,870; accounts receivable = $22,108; = $62,150; prepaid $3,010; supplies accumulated depreciation = = $927; equipment 13,750; accounts payable = $28,000; net sales = $325,000; interest expense = $6,000; tax expense = $12,600; earnings before interest and taxes = $122,623; no. of shares outstanding = 335,000. Round to two decimal places.
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