Rose Company reported net income of $24,000, net sales of $400,000, and average assets of $600,000. Calculate the profit margin ratio. a. 200% b. 40% C. 6% d. 12%

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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General Accounting Question please answer do fast

Rose Company reported net income of $24,000, net sales
of $400,000, and average assets of $600,000.
Calculate the profit margin ratio.
a. 200%
b. 40%
C. 6%
d. 12%
Transcribed Image Text:Rose Company reported net income of $24,000, net sales of $400,000, and average assets of $600,000. Calculate the profit margin ratio. a. 200% b. 40% C. 6% d. 12%
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