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nadya68 [22]
3 years ago
11

Shelton Inc. has sales of $17.5 million, total assets of $13.1 million, and total debt of $5.7 million. If the profit margin is

6 percent, what is the net income?
Business
1 answer:
tatiyna3 years ago
3 0

Answer:

$1,050,000

Explanation:

The computation of the net income is shown below:

Net income = Sales revenue × profit margin percentage

                    = $17,500,000 × 6%

                    = $1,050,000

To determine the net income we multiplied the sales revenues by its profit margin percentage so that the correct value could be arrived.

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