Answered: The following information is available:…

The following information is available: Sales $650,000 Net Income $35,000 Retained Earnings $62,500 Average Stockholders' $205,000 Equity Dividends $12,500 What is the net income percentage?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter5: The Income Statement And The Statement Of Cash Flows

Section: Chapter Questions

Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...

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Question

What is the net income percentage?

The following information is available:
Sales
$650,000
Net Income
$35,000
Retained Earnings
$62,500
Average
Stockholders'
$205,000
Equity
Dividends
$12,500
What is the net income percentage?

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