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neonofarm [45]
3 years ago
10

During the year ended December 31, 2022, Bjornstad Corporation had the following results: net sales $267,000, cost of goods sold

$107,000, net income $92,400, operating expenses $55,400, and net cash provided by operating activities $108,950. What was the company's profit margin?
Business
1 answer:
aliya0001 [1]3 years ago
7 0

Answer:

<em>profit margin 34.61%</em>

Explanation:

profit \: \: margin = \frac{profit}{sales}

<em>The profit margins represents how many cent or the percentage of sales which converts into net income.</em>

<em>net income:</em> 92,400

<em>net sales:</em> 267,000

profit \: \: margin = \frac{92,400}{267,000}

<em>profit margin</em> = 0.346067415 = <em>34.61%</em>

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