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The following information is available for our company for the current year: Operating income $45,000 Average total assets $400,000 Net sales $900,000 Required rate of return 12% Calculate the profit margin. a. 4.44% b. 5% c. 8.89% d. 11.25%

The following information is available for our company for the current year: Operating income $45,000 Average total assets $400,000 Net sales $900,000 Required rate of return 12% Calculate the profit margin. a. 4.44% b. 5% c. 8.89% d. 11.25%

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter14: Decentralized Operations
Section: Chapter Questions
Problem 3SEQ: Division A of Kern Co. has sales of $350,000, cost of goods sold of $200,000, operating expenses of...
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What the current year? Solve this answer general Accounting

The following information is available for our company for the current year: Operating income $45,000 Average total assets $400,000 Net sales $900,000 Required rate of return 12% Calculate the profit margin. a. 4.44% b. 5% c. 8.89% d. 11.25%
Transcribed Image Text:The following information is available for our company for the current year: Operating income $45,000 Average total assets $400,000 Net sales $900,000 Required rate of return 12% Calculate the profit margin. a. 4.44% b. 5% c. 8.89% d. 11.25%
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