Ratio Analysis The following information pertains to Cobb Corporation's financial results for the past year. Net sales $135,000 Cost of goods sold 48,000 Other expenses 37,000 Net income 47,000 Calculate Cobb's net profit margin ratio. Round your answer to the nearest whole percent?
Ratio Analysis The following information pertains to Cobb Corporation's financial results for the past year. Net sales $135,000 Cost of goods sold 48,000 Other expenses 37,000 Net income 47,000 Calculate Cobb's net profit margin ratio. Round your answer to the nearest whole percent?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter5: The Income Statement And The Statement Of Cash Flows
Section: Chapter Questions
Problem 2MC: The following information is available for Cooke Company for the current year: The gross margin is...
Related questions
Question
Ratio Analysis
The following information pertains to Cobb Corporation's financial results for the past year.
| Net sales | $135,000 |
| Cost of goods sold | 48,000 |
| Other expenses | 37,000 |
| Net income | 47,000 |
Calculate Cobb's net profit margin ratio. Round your answer to the nearest whole percent?
Expert Solution
Step 1
Given that ,
Net sales = $ 135000
Cost of goods sold = $ 48000
Net income = $ 47000
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
