Data from the financial statements of Kroger King and SuperDeal Inc. are presented below (in millions): Kroger KingSuperDeal Inc.Total liabilities, 2019$18,261$13,549Total liabilities, 201818,05215,023Total assets, 201923,09316,436Total assets, 201823,25717,604Net sales, 201976,73340,851Net income, 201970883To the nearest hundredth of a percent, what is the 2019 profit margin for SuperDeal, Inc.?Select one:a. 2.39%b. 2.90%c. 2.16%d. Not enough information is provided

The profit margin is calculated as the difference between a company's profit (sales minus all…

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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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Data from the financial statements of Kroger King and SuperDeal Inc. are presented below (in millions):

	Kroger King	SuperDeal Inc.
Total liabilities, 2019	$18,261	$13,549
Total liabilities, 2018	18,052	15,023
Total assets, 2019	23,093	16,436
Total assets, 2018	23,257	17,604
Net sales, 2019	76,733	40,851
Net income, 2019	70	883

To the nearest hundredth of a percent, what is the 2019 profit margin for SuperDeal, Inc.?

Select one:

a. 2.39%

b. 2.90%

c. 2.16%

d. Not enough information is provided

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