Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below:事20212020ACcounts receivableMerchandise inventory$ 42,000$ 37,00037,000200, 000109, 00029,000Net sales213,300Cost of goods soldTotal assetsTotal shareholders' equity116,000427,000406,000242,000226, 000Net income34,00029,000Hulkster's 2021 profit margin is (rounded): (Round your answer to 1 decimal places.)Multiple Choice< Prev12 of 15Next> Multiple Cholce15.9%.14.0%.8.0%.4.7%.12 of 15Next >< Prev

Profit Margin = Net income/Sales

Answered: Hulkster's 2021 profit margin is…

Business

Accounting

Hulkster's 2021 profit margin is (rounded). (Round your answer to 1 decimal places.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

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Excerpts from Hulkster Company's December 31, 2021 and 2020, financial statements are presented below:
事
2021
2020
ACcounts receivable
Merchandise inventory
$ 42,000
$ 37,000
37,000
200, 000
109, 000
29,000
Net sales
213,300
Cost of goods sold
Total assets
Total shareholders' equity
116,000
427,000
406,000
242,000
226, 000
Net income
34,000
29,000
Hulkster's 2021 profit margin is (rounded): (Round your answer to 1 decimal places.)
Multiple Choice
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15.9%.
14.0%.
8.0%.
4.7%.
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