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The Sugar Shack reports net income of $150,000, sales of $1,500,000, and average assets of $730,000. What is the profit margin? a. 48.6% b. 20.5% c. 10% d. 115%

The Sugar Shack reports net income of $150,000, sales of $1,500,000, and average assets of $730,000. What is the profit margin? a. 48.6% b. 20.5% c. 10% d. 115%

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 is the profit margin??

The Sugar Shack reports net income of $150,000, sales of $1,500,000, and average assets of $730,000. What is the profit margin? a. 48.6% b. 20.5% c. 10% d. 115%
Transcribed Image Text:The Sugar Shack reports net income of $150,000, sales of $1,500,000, and average assets of $730,000. What is the profit margin? a. 48.6% b. 20.5% c. 10% d. 115%
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