Bobbytronics had $7,000,000 in net income for the year.Its sales were $11,200,000.Calculate the profit margin.
A) 17.5%.
B) 62.5%.
C) $34 million.
D) $4.2 million.
E) 28%.

Name: Bobbytronics had $7,000,000 in net income for the year.Its sales were $11,200,000.Calculate the profit margin. A) 17.5%. B) 62.5%. C) $34 million. D) $4.2 million. E) 28%.
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Question

Quizplus · Accepted Answer

Profit margin is calculated as (Net Income / Sales) * 100. For Bobbytronics, it is ($7,000,000 / $11,200,000) * 100 = 62.5%.

Bobbytronics Had $7,000,000 in Net Income for the Year