A company had $6,992,000 in net income for the year.Its net sales were $15,200,000 for the same period.Calculate its profit margin.
A)85.4%.
B)117.1%.
C)53.9%.
D)217.1%.
E)46.0%.

Name: A company had $6,992,000 in net income for the year.Its net sales were $15,200,000 for the same period.Calculate its profit margin. A)85.4%. B)117.1%. C)53.9%. D)217.1%. E)46.0%.
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Question

Quizplus · Accepted Answer

Profit margin is calculated as (Net Income / Net Sales) * 100. So, ($6,992,000 / $15,200,000) * 100 = 46.0%.

A Company Had $6,992,000 in Net Income for the Year