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Ocean Breeze Café reports a net income of $180,000, sales of $1,800,000, and average assets of $850,000. What is the profit margin? A) 50.6% B) 15.8% C) 10% D) 9.2%

Ocean Breeze Café reports a net income of $180,000, sales of $1,800,000, and average assets of $850,000. What is the profit margin? A) 50.6% B) 15.8% C) 10% D) 9.2%

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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Ocean Breeze Café reports a net income of $180,000, sales of $1,800,000, and average assets of $850,000. What is the profit margin? A) 50.6% B) 15.8% C) 10% D) 9.2%
Transcribed Image Text:Ocean Breeze Café reports a net income of $180,000, sales of $1,800,000, and average assets of $850,000. What is the profit margin? A) 50.6% B) 15.8% C) 10% D) 9.2%
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