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Lakeview Hotel reports a net income of $350,000, sales of $2,800,000, and average assets of $1,750,000. What is the profit margin? A) 20% B) 12.5% C) 10% D) 15%

Lakeview Hotel reports a net income of $350,000, sales of $2,800,000, and average assets of $1,750,000. What is the profit margin? A) 20% B) 12.5% C) 10% D) 15%

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 5EB: During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of...
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Lakeview Hotel reports a net income of $350,000, sales of $2,800,000, and average assets of $1,750,000. What is the profit margin? A) 20% B) 12.5% C) 10% D) 15%
Transcribed Image Text:Lakeview Hotel reports a net income of $350,000, sales of $2,800,000, and average assets of $1,750,000. What is the profit margin? A) 20% B) 12.5% C) 10% D) 15%
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