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12345 [234]
2 years ago
11

A company had $7,040,000 in net income for the year. Its net sales were $15,600,000 for the same period. Calculate its profit ma

rgin.
Business
1 answer:
ivann1987 [24]2 years ago
5 0

The measure of a product, service, or company's profitability is its profit margin. The bigger the percentage representing the profit margin, the more profitable the company is.

Profitability is gauged by profit margin. Finding the profit as a proportion of revenue is used to calculate it.

Profit margin=44.9%

Explanation to the answer:

Profit margin =Net income / sales

                    =7,050,000 / $ 15,700,000

                    =0.44904

                    =44.9%

Profit margin =44.9%

Learn more about profit margin here brainly.com/question/24161087

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