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The Coffee Corner reports net income of $210,000, sales of $2,800,000, and average assets of $1,050,000. What is the profit margin? a. 20% b. 7.5% c. 12.6% d. 5%

The Coffee Corner reports net income of $210,000, sales of $2,800,000, and average assets of $1,050,000. What is the profit margin? a. 20% b. 7.5% c. 12.6% d. 5%

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter16: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 29E
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The Coffee Corner reports net income of $210,000, sales of $2,800,000, and average assets of $1,050,000. What is the profit margin? a. 20% b. 7.5% c. 12.6% d. 5%
Transcribed Image Text:The Coffee Corner reports net income of $210,000, sales of $2,800,000, and average assets of $1,050,000. What is the profit margin? a. 20% b. 7.5% c. 12.6% d. 5%
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