The following amounts were taken from the financial statements of Blue Spruce Corp.: 20172016Total assets$821000$1017000Net sales744000656000Gross profit366000321000Net income111000118000Weighted average number of 97500 97500 common shares outstanding Market price of common stock$49$46The profit margin ratio for 2017 is14%.18%.16%.15%.

Net profit indicates the excess of revenue over total operating cost including the cost of goods…

Answered: The following amounts were taken from…

Financial & Managerial Accounting

13th Edition

ISBN:9781285866307

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter11: Corporations: Organization, Stock Transactions, And Dividends

Section: Chapter Questions

Problem 11.8BPE: Earnings per share Financial statement data for the years ended December 31 for Black Bull Inc....

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The following amounts were taken from the financial statements of Blue Spruce Corp.:

	2017	2016
Total assets	$821000	$1017000
Net sales	744000	656000
Gross profit	366000	321000
Net income	111000	118000
Weighted average number of	97500	97500
common shares outstanding
Market price of common stock	$49	$46

The profit margin ratio for 2017 is

14%.

18%.

16%.

15%.

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