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Riverstone Ltd. has the following data for the year: • • • Sales revenue = $300,000 Sales returns and allowances = $5,000 . Sales discounts = $12,000 Cost of goods sold = $120,000 . Operating expenses = $70,000 What is the profit margin ratio for Riverstone Ltd.?

Riverstone Ltd. has the following data for the year: • • • Sales revenue = $300,000 Sales returns and allowances = $5,000 . Sales discounts = $12,000 Cost of goods sold = $120,000 . Operating expenses = $70,000 What is the profit margin ratio for Riverstone Ltd.?

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter6: Merchandising Transactions
Section: Chapter Questions
Problem 19Q: The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and...
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Subject : Financial Accounting

Riverstone Ltd. has the following data for the year: • • • Sales revenue = $300,000 Sales returns and allowances = $5,000 . Sales discounts = $12,000 Cost of goods sold = $120,000 . Operating expenses = $70,000 What is the profit margin ratio for Riverstone Ltd.?
Transcribed Image Text:Riverstone Ltd. has the following data for the year: • • • Sales revenue = $300,000 Sales returns and allowances = $5,000 . Sales discounts = $12,000 Cost of goods sold = $120,000 . Operating expenses = $70,000 What is the profit margin ratio for Riverstone Ltd.?
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