The following amounts were taken from the financial statements of Blue Spruce Corp.: 2017 2016 Total assets $821000 $1017000 Net sales 744000 656000 Gross profit 366000 321000 Net income 111000 118000 Weighted average number of 97500 97500 common shares outstanding Market price of common stock $49 $46 The profit margin ratio for 2017 is 14%. 18%. 16%. 15%.
The following amounts were taken from the financial statements of Blue Spruce Corp.: 2017 2016 Total assets $821000 $1017000 Net sales 744000 656000 Gross profit 366000 321000 Net income 111000 118000 Weighted average number of 97500 97500 common shares outstanding Market price of common stock $49 $46 The profit margin ratio for 2017 is 14%. 18%. 16%. 15%.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following amounts were taken from the financial statements of Blue Spruce Corp.:
| 2017 | 2016 | |
| Total assets | $821000 | $1017000 |
| Net sales | 744000 | 656000 |
| Gross profit | 366000 | 321000 |
| Net income | 111000 | 118000 |
| Weighted average number of | 97500 | 97500 |
| common shares outstanding | ||
| Market price of common stock | $49 | $46 |
The profit margin ratio for 2017 is
14%.
18%.
16%.
15%.
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