The following information pertains to Soho Company. Assume that all statement of financial position amounts represent both average and ending balance figures. Assume that all sales were on credit. What is the profit margin for Soho?
A) 42.9%
B) 18.8%
C) 23.5%
D) 15.0%

Question

The following information pertains to Soho Company. Assume that all statement of financial position amounts represent both average and ending balance figures. Assume that all sales were on credit.  What is the profit margin for Soho?
A) 42.9% 
B) 18.8% 
C) 23.5% 
D) 15.0%

Quizplus · Accepted Answer

The Answer of The following information pertains to Soho Company. Assume that all statement of financial position amounts represent both average and ending balance figures. Assume that all sales were on credit.  What is the profit margin for Soho?
A) 42.9% 
B) 18.8% 
C) 23.5% 
D) 15.0%

The Following Information Pertains to Soho Company