Answered: Maple Treats reports a net income of…

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

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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need help this problem

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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