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%
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%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Financial Accounting
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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