General Accounting Question please answer do fast Rose Company reported net income of $24,000, net salesof $400,000, and average assets of $600,000.Calculate the profit margin ratio.a. 200%b. 40%C. 6%d. 12%

Step 1:Ratio analysis is a process of comparison of data with previous year and with compatitive…

Answered: Rose Company reported net income of…

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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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%