Use the information given below: Income Statement Information: Sales revenue Cost of goods sold Net income 2018 2017 $8,004,000 $7,800,000 $5,282,640 $5,300,000 $327,120 $188,000 Balance Sheet Information: Current assets $1,540,000 $1,440,000 Long-term assets $2,140,000 $1,840,000 $3,680,000 $3,280,000 $1,140,000 $840,000 Total assets Current liabilities Long-term liabilities Common stock Retained earnings $1,560,000 $1,560,000 $740,000 $740,000 $240,000 $140,000 Total liabilities and stockholders' equity $3,680,000 $3,280,000 Calculate the Profit margin ratio for 2018.

Use the information given below: Income Statement Information: Sales revenue Cost of goods sold Net income 2018 2017 $8,004,000 $7,800,000 $5,282,640 $5,300,000 $327,120 $188,000 Balance Sheet Information: Current assets $1,540,000 $1,440,000 Long-term assets $2,140,000 $1,840,000 $3,680,000 $3,280,000 $1,140,000 $840,000 Total assets Current liabilities Long-term liabilities Common stock Retained earnings $1,560,000 $1,560,000 $740,000 $740,000 $240,000 $140,000 Total liabilities and stockholders' equity $3,680,000 $3,280,000 Calculate the Profit margin ratio for 2018.

Fundamentals of Financial Management (MindTap Course List)

15th Edition

ISBN:9781337395250

Author:Eugene F. Brigham, Joel F. Houston

Publisher:Eugene F. Brigham, Joel F. Houston

Chapter4: Analysis Of Financial Statements

Section: Chapter Questions

Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...

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