Sales.... Costs and expenses Cost of goods sold. Operating expenses. Interest expense.. Income before income taxes. Income tax expense.. Net income.. Total assets.. Total liabilities.. Total shareholders' equity... Statement of Income For the Year Ended December 31, 2020 $1,140,000 $1,700,000 364,800 37,800 1,542,600 157,400 55,090 $ 102,310 GEORGE INDUSTRIES Statement of Financial Position December 31, 2020 2020 2019 $842,110 $717,800 329,600 279,600 512,510 438,200 Calculate the Net profit margin ratio (use up to 2 decimal places and do not use a % sign)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Sales.
Costs and expenses
Cost of goods sold.
Operating expenses.
Interest expense...
Income before income taxes.
Income tax expense..
Net income..
Statement of Income
For the Year Ended December 31, 2020
$1,140,000
$1,700,000
364,800
37,800
1,542,600
157,400
55,090
$ 102,310
GEORGE INDUSTRIES
Statement of Financial Position
December 31, 2020
Total assets.
Total liabilities..
Total shareholders' equity...
2020
2019
$842,110
$717,800
329,600
279,600
512,510
438,200
Calculate the Net profit margin ratio (use up to 2 decimal places and do not use a % sign)
Transcribed Image Text:Sales. Costs and expenses Cost of goods sold. Operating expenses. Interest expense... Income before income taxes. Income tax expense.. Net income.. Statement of Income For the Year Ended December 31, 2020 $1,140,000 $1,700,000 364,800 37,800 1,542,600 157,400 55,090 $ 102,310 GEORGE INDUSTRIES Statement of Financial Position December 31, 2020 Total assets. Total liabilities.. Total shareholders' equity... 2020 2019 $842,110 $717,800 329,600 279,600 512,510 438,200 Calculate the Net profit margin ratio (use up to 2 decimal places and do not use a % sign)
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