The following information comes from Simon Company's year-end financial statements: Sales $250,000, Cost of goods sold $100,000, Net income $12,500 and Total assets $187,500.The profit margin ratio for the year is closest to?
A)5%
B)6.6%
C)40 %
D)12.5%

Question

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The Answer of The following information comes from Simon Company's year-end financial statements: Sales $250,000, Cost of goods sold $100,000, Net income $12,500 and Total assets $187,500.The profit margin ratio for the year is closest to?
A)5%
B)6.6%
C)40 %
D)12.5%

The Following Information Comes from Simon Company's Year-End Financial Statements