Financial information is presented below: Operating expenses $ 28,000 Sales returns and allowances 7,000 Sales discounts Sales revenue Cost of goods sold The profit margin would be: a. 0.21. b. 0.14. c. 0.35. d. 0.15. 3,000 150,000 91,000

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...
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Give Correct profit margin for this accounting question

Financial information is presented below:
Operating expenses
$ 28,000
Sales returns and allowances 7,000
Sales discounts
Sales revenue
Cost of goods sold
The profit margin would be:
a. 0.21.
b. 0.14.
c. 0.35.
d. 0.15.
3,000
150,000
91,000
Transcribed Image Text:Financial information is presented below: Operating expenses $ 28,000 Sales returns and allowances 7,000 Sales discounts Sales revenue Cost of goods sold The profit margin would be: a. 0.21. b. 0.14. c. 0.35. d. 0.15. 3,000 150,000 91,000
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