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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

#SPJ4

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In conclusion, the privatization of public property was a vital task because the state was "land rich but money poor" and there is need to raise funds that could be used for infrastructure purposes such as funding elementary, secondary, higher education etc

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