TB MC Qu. 12-104 (Static) Excerpts from Andre Company's December... Excerpts from Andre Company's December 31, 2024 and 2023, financial statements are presented b Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity Net income 2024 2023 $40,000 $36,000 28,000 35,000 190,000 186,000 114,000 108,000 405,000 225,000 28,000 425,000 240,000 32,500 What is the profit margin for 2024? (Round your answer to one decimal place.)

FINANCIAL ACCOUNTING
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Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Excerpts from Andre Company's are below:
TB MC Qu. 12-104 (Static) Excerpts from Andre Company's December...
Excerpts from Andre Company's December 31, 2024 and 2023, financial statements are presented b
Accounts receivable
Inventory
Net sales
Cost of goods sold
Total assets
Total stockholders' equity
Net income
2024
$40,000
28,000
190,000
114,000
425,000
240,000
2023
$36,000
35,000
186,000
108,000
405,000
225,000
32,500 28,000
Multiple Choice
What is the profit margin for 2024? (Round your answer to one decimal place.)
What is the profit margin for 2024?
Multiple Choice
4.5%
7.6%
13.5%
171%
Transcribed Image Text:Excerpts from Andre Company's are below: TB MC Qu. 12-104 (Static) Excerpts from Andre Company's December... Excerpts from Andre Company's December 31, 2024 and 2023, financial statements are presented b Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity Net income 2024 $40,000 28,000 190,000 114,000 425,000 240,000 2023 $36,000 35,000 186,000 108,000 405,000 225,000 32,500 28,000 Multiple Choice What is the profit margin for 2024? (Round your answer to one decimal place.) What is the profit margin for 2024? Multiple Choice 4.5% 7.6% 13.5% 171%
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