Answered: Martinez Corporation reported net sales…

Martinez Corporation reported net sales of $777,000, net income of $130,000, and total assets of $7,754,184. The profit margin is: Mutiple Choice 598.0%. 5.98%. 83.27%. 1.67%. 16.73%.

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter22: S Corporations

Section: Chapter Questions

Problem 16CE

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Question

Martinez Corporation reported net sales of $777,000, net income of $130,000, and total assets of $7,754,184. The profit margin is:

Mutiple Choice

598.0%.
5.98%.
83.27%.
1.67%.
16.73%.

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