Ratio Analysis The following information pertains to Cobb Corporation's financial results for the past year. Net sales $135,000 Cost of goods sold 48,000 Other expenses 37,000 Net income 47,000 Calculate Cobb's net profit margin ratio. Round your answer to the nearest whole percent?
Ratio Analysis The following information pertains to Cobb Corporation's financial results for the past year. Net sales $135,000 Cost of goods sold 48,000 Other expenses 37,000 Net income 47,000 Calculate Cobb's net profit margin ratio. Round your answer to the nearest whole percent?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Ratio Analysis
The following information pertains to Cobb Corporation's financial results for the past year.
| Net sales | $135,000 |
| Cost of goods sold | 48,000 |
| Other expenses | 37,000 |
| Net income | 47,000 |
Calculate Cobb's net profit margin ratio. Round your answer to the nearest whole percent?
Expert Solution
Step 1
Given that ,
Net sales = $ 135000
Cost of goods sold = $ 48000
Net income = $ 47000
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