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Financial information is presented below: Operating expenses = $55,000 Sales returns and allowances = $3,000 Sales discounts = $9,000 Sales revenue = $200,000 Cost of goods sold = $87,000 What is the profit margin ratio?

Financial information is presented below: Operating expenses = $55,000 Sales returns and allowances = $3,000 Sales discounts = $9,000 Sales revenue = $200,000 Cost of goods sold = $87,000 What is the profit margin ratio?

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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Financial accounting question

Financial information is presented below: Operating expenses = $55,000 Sales returns and allowances = $3,000 Sales discounts = $9,000 Sales revenue = $200,000 Cost of goods sold = $87,000 What is the profit margin ratio?
Transcribed Image Text:Financial information is presented below: Operating expenses = $55,000 Sales returns and allowances = $3,000 Sales discounts = $9,000 Sales revenue = $200,000 Cost of goods sold = $87,000 What is the profit margin ratio?
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