Answered: The Sports Shack reports net income of…

The Sports Shack reports net income of $120,000, sales of $1,200,000, and average assets of $960,000. The profit margin is a. 10%.b. 12.5%.c. 80%.d. 125%.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter12: Balanced Scorecard And Other Performance Measures

Section: Chapter Questions

Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...

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Question

The Sports Shack reports net income of $120,000, sales of $1,200,000, and average assets of $960,000. The profit margin is
a. 10%.
b. 12.5%.
c. 80%.
d. 125%.

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