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Parker Manufacturing has the following financial details: • Total assets: $3,500 • Sales: $4,200 • . Operating costs: $3,900 Total current liabilities: $400, consisting of $300 accruals and $100 notes payable . Long-term debt: $1,200 • Common equity: $1,900 • Interest charges: $150 . Tax rate: 35% What is Parker Manufacturing's profit margin? a. 3.26% b. 3.01% c. 2.87% d. 2.32%

Parker Manufacturing has the following financial details: • Total assets: $3,500 • Sales: $4,200 • . Operating costs: $3,900 Total current liabilities: $400, consisting of $300 accruals and $100 notes payable . Long-term debt: $1,200 • Common equity: $1,900 • Interest charges: $150 . Tax rate: 35% What is Parker Manufacturing's profit margin? a. 3.26% b. 3.01% c. 2.87% d. 2.32%

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please give correct profit margin on these general accounting question

Parker Manufacturing has the following financial details: • Total assets: $3,500 • Sales: $4,200 • . Operating costs: $3,900 Total current liabilities: $400, consisting of $300 accruals and $100 notes payable . Long-term debt: $1,200 • Common equity: $1,900 • Interest charges: $150 . Tax rate: 35% What is Parker Manufacturing's profit margin? a. 3.26% b. 3.01% c. 2.87% d. 2.32%
Transcribed Image Text:Parker Manufacturing has the following financial details: • Total assets: $3,500 • Sales: $4,200 • . Operating costs: $3,900 Total current liabilities: $400, consisting of $300 accruals and $100 notes payable . Long-term debt: $1,200 • Common equity: $1,900 • Interest charges: $150 . Tax rate: 35% What is Parker Manufacturing's profit margin? a. 3.26% b. 3.01% c. 2.87% d. 2.32%
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