The following information has been extracted from the financial statements of Muggie Pty. Ltd., a mug wholesaler. Accounts2021in thousandsInterest expense$5COGS$322Accounts Receivable$320Inventory$330Bank Loan (5 years)$580Accounts Payable$230Property, Plant and Equipment$1,300Sales$692Selling Expenses$21Administrative Expenses$18Tax Expense $80 Required:Calculate net profit margin for the year 2021. Leave two (2) decimal places.

Net profit is the net income of the business after considering all the expenses and all the incomes…

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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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The following information has been extracted from the financial statements of Muggie Pty. Ltd., a mug wholesaler.

Accounts	2021 in thousands
Interest expense	$5
COGS	$322
Accounts Receivable	$320
Inventory	$330
Bank Loan (5 years)	$580
Accounts Payable	$230
Property, Plant and Equipment	$1,300
Sales	$692
Selling Expenses	$21
Administrative Expenses	$18
Tax Expense	$80

Required:

Calculate net profit margin for the year 2021. Leave two (2) decimal places.

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