expert of general account answer The Sugar Shack reports net income of$150,000, sales of $1,500,000, andaverage assets of $730,000. What is theprofit margin?a. 48.6%b. 20.5%c. 10%d. 115%

Step 1: Definition of Profit MarginProfit margin is a financial ratio that measures the percentage…

Answered: The Sugar Shack reports net income of…

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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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%