Use the following data: Average total assets ($) 180,000 Total current assets 50,000 Total Assets 150,000 Total current liabilities 25,000 Total liabilities 75,000 Net income 8,000 Cost of goods sold 24,000 Sales revenue 100,000 What is net profit margin ratio? A. 24.00% B. 12.50% C. 8.00% D. 4.16%

Use the following data: Average total assets ($) 180,000 Total current assets 50,000 Total Assets 150,000 Total current liabilities 25,000 Total liabilities 75,000 Net income 8,000 Cost of goods sold 24,000 Sales revenue 100,000 What is net profit margin ratio? A. 24.00% B. 12.50% C. 8.00% D. 4.16%

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 4CE

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Question

Need help with this question solution general accounting

Use the following data:
Average total assets
($)
180,000
Total current assets
50,000
Total Assets
150,000
Total current liabilities 25,000
Total liabilities
75,000
Net income
8,000
Cost of goods sold
24,000
Sales revenue
100,000
What is net profit margin ratio?
A. 24.00%
B. 12.50%
C. 8.00%
D. 4.16%

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