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Sunshine Bakery reports a net income of $240,000, sales of $2,000,000, and average assets of $1,200,000. What is the profit margin? a. 45.5% b. 12% c. 20% d. 16.7%

Sunshine Bakery reports a net income of $240,000, sales of $2,000,000, and average assets of $1,200,000. What is the profit margin? a. 45.5% b. 12% c. 20% d. 16.7%

Intermediate Accounting: Reporting And Analysis
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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Sunshine Bakery reports a net income of $240,000, sales of $2,000,000, and average assets of $1,200,000. What is the profit margin? a. 45.5% b. 12% c. 20% d. 16.7%
Transcribed Image Text:Sunshine Bakery reports a net income of $240,000, sales of $2,000,000, and average assets of $1,200,000. What is the profit margin? a. 45.5% b. 12% c. 20% d. 16.7%
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