Use the following data to calculate the profit margin ratio: • Sales: $250,000 • Sales Returns and Allowances: $15,000 . Sales Discounts: $5,000 . Cost of Goods Sold: $120,000 • Operating Expenses: $65,000 a. 0.180 b. 0.226 c. 0.260 d. 0.195
Use the following data to calculate the profit margin ratio: • Sales: $250,000 • Sales Returns and Allowances: $15,000 . Sales Discounts: $5,000 . Cost of Goods Sold: $120,000 • Operating Expenses: $65,000 a. 0.180 b. 0.226 c. 0.260 d. 0.195
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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Transcribed Image Text:Use the following data to calculate the profit margin ratio:
•
Sales: $250,000
•
Sales Returns and Allowances: $15,000
.
Sales Discounts: $5,000
. Cost of Goods Sold: $120,000
•
Operating Expenses: $65,000
a. 0.180
b. 0.226
c. 0.260
d. 0.195
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