Drake Goods reports net income of $310,000, sales of $9,200,000, and average assets of $860,000. What is the profit margin?
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Drake Goods reports net income of $310,000, sales of $9,200,000, and average assets of $860,000. What is the profit margin?
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- Marino Company has provided the following information: Net sales, $480,000 Net income, $24,000 Average total assets, $200,000 What is Marino's net profit margin?What is the gross profit?Suppose Austin Sound had sales of $450,000 and sales returns of $55,000. Cost of goods sold was $176,000. How much gross profit did Austin Sound report?