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Financial data is provided below: Sales revenue: $245,000 Sales returns and allowances: $8,000 Sales discounts: $7,000 Cost of goods sold: $138,000 Operating expenses: $35,000 The profit margin ratio would be: a. 0.31 b. 0.23 c. 0.25 d. 0.28

Financial data is provided below: Sales revenue: $245,000 Sales returns and allowances: $8,000 Sales discounts: $7,000 Cost of goods sold: $138,000 Operating expenses: $35,000 The profit margin ratio would be: a. 0.31 b. 0.23 c. 0.25 d. 0.28

Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
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Hi expert please give me answer general accounting question

Financial data is provided below: Sales revenue: $245,000 Sales returns and allowances: $8,000 Sales discounts: $7,000 Cost of goods sold: $138,000 Operating expenses: $35,000 The profit margin ratio would be: a. 0.31 b. 0.23 c. 0.25 d. 0.28
Transcribed Image Text:Financial data is provided below: Sales revenue: $245,000 Sales returns and allowances: $8,000 Sales discounts: $7,000 Cost of goods sold: $138,000 Operating expenses: $35,000 The profit margin ratio would be: a. 0.31 b. 0.23 c. 0.25 d. 0.28
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