During 2025, Pinnacle Industries reported the following: Net sales: $75,000,000 Net income: $4,500,000 Depreciation expense: $1,200,000 Beginning total assets: $27,000,000 Ending total assets: $32,000,000 Property, plant, and equipment: $18,000,000 Accumulated depreciation: $4,200,000 Pinnacle Industries' profit margin is: a. 5.2% b. 6.0% c. 7.6% d. 8.4%

During 2025, Pinnacle Industries reported the following: Net sales: $75,000,000 Net income: $4,500,000 Depreciation expense: $1,200,000 Beginning total assets: $27,000,000 Ending total assets: $32,000,000 Property, plant, and equipment: $18,000,000 Accumulated depreciation: $4,200,000 Pinnacle Industries' profit margin is: a. 5.2% b. 6.0% c. 7.6% d. 8.4%

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 11P: The Berndt Corporation expects to have sales of 12 million. Costs other than depreciation are...

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