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Question: Green Grove reports a net income of $180,000, sales of $2,000,000, and average assets of $1,000,000. What is the profit margin? a. 9% b. 12% c. 15% d. 18%

Question: Green Grove reports a net income of $180,000, sales of $2,000,000, and average assets of $1,000,000. What is the profit margin? a. 9% b. 12% c. 15% d. 18%

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter4: Accounting For Retail Operations
Section: Chapter Questions
Problem 4.2MBA: Sales transactions Using transactions listed in P4-2, indicate the effects of each transaction on...
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Question: Green Grove reports a net income of $180,000, sales of $2,000,000, and average assets of $1,000,000. What is the profit margin? a. 9% b. 12% c. 15% d. 18%
Transcribed Image Text:Question: Green Grove reports a net income of $180,000, sales of $2,000,000, and average assets of $1,000,000. What is the profit margin? a. 9% b. 12% c. 15% d. 18%
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