Torsten had total assets of $149,501,000, net income of $6,242,000, and net sales of $209,203,000. Its profit margin was 2.98%.
Profit Margin = Net Income/Net Sales
Profit Margin = $6,242,000/$209,203,000 = 2.98%

Question

Quizplus · Accepted Answer

The calculation shown for the profit margin is correct, and the given profit margin of 2.98% aligns with the result of the calculation. Therefore, the statement is true.

Torsten Had Total Assets of $149,501,000, Net Income of $6,242,000