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Maple Treats reports a net income of $180,000, sales of $1,700,000, and average assets of $800,000. What is the profit margin? a. 50.2% b. 21.4% c. 10.6% d. 120%

Maple Treats reports a net income of $180,000, sales of $1,700,000, and average assets of $800,000. What is the profit margin? a. 50.2% b. 21.4% c. 10.6% d. 120%

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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Maple Treats reports a net income of $180,000, sales of $1,700,000, and average assets of $800,000. What is the profit margin? a. 50.2% b. 21.4% c. 10.6% d. 120%
Transcribed Image Text:Maple Treats reports a net income of $180,000, sales of $1,700,000, and average assets of $800,000. What is the profit margin? a. 50.2% b. 21.4% c. 10.6% d. 120%
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