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Last year, Summit Motors had sales of $160 million and assets at the start of the year of $250 million. If its return on start-of- year assets was 18%, what was its operating profit margin?

Last year, Summit Motors had sales of $160 million and assets at the start of the year of $250 million. If its return on start-of- year assets was 18%, what was its operating profit margin?

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 6EB: During the current year, Plainfield Manufacturing earned income of $845,000 from total sales of...
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What was its operating profit margin on these financial accounting question?

Last year, Summit Motors had sales of $160 million and assets at the start of the year of $250 million. If its return on start-of- year assets was 18%, what was its operating profit margin?
Transcribed Image Text:Last year, Summit Motors had sales of $160 million and assets at the start of the year of $250 million. If its return on start-of- year assets was 18%, what was its operating profit margin?
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