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Given the following financial data for Horizon Inc.: • Net income: $12,000 • Sales revenue: $150,000 • Total assets: $200,000 • Cost of goods sold: $60,000 • Total liabilities: $90,000 What is the net profit margin ratio? a) 6.5% b) 12% c) 8% d) 10%

Given the following financial data for Horizon Inc.: • Net income: $12,000 • Sales revenue: $150,000 • Total assets: $200,000 • Cost of goods sold: $60,000 • Total liabilities: $90,000 What is the net profit margin ratio? a) 6.5% b) 12% c) 8% d) 10%

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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Given the following financial data for Horizon Inc.: • Net income: $12,000 • Sales revenue: $150,000 • Total assets: $200,000 • Cost of goods sold: $60,000 • Total liabilities: $90,000 What is the net profit margin ratio? a) 6.5% b) 12% c) 8% d) 10%
Transcribed Image Text:Given the following financial data for Horizon Inc.: • Net income: $12,000 • Sales revenue: $150,000 • Total assets: $200,000 • Cost of goods sold: $60,000 • Total liabilities: $90,000 What is the net profit margin ratio? a) 6.5% b) 12% c) 8% d) 10%
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