Suppose that the Olympic Resources Corporation had sales of $5,762,450 and net income of $426,320 for the year ending December 31, 2011. Calculate the Profit Margin. Answer this accounting problem.
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Suppose that the Olympic Resources Corporation had sales of $5,762,450 and net income of $426,320 for the year ending December 31, 2011. Calculate the Profit Margin. Answer this accounting problem.
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- XYZ Co. wants to know if its profitability performance has increased from 2009 to 2010. The company had net income of $48,000 in 2009 and $50,000 in 2010. Total assets were $480,000 at the end of 2009, and $560,000 at the end of 2010. Calculate return on assets(ROA) for 2009 and 2010 and Comment on the results.Can you explain the steps for solving this General accounting question accurately?Please provide the answer to this financial accounting question with proper steps.