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Tpy6a [65]
3 years ago
14

The following amounts were taken from the financial statements of Crane Company: 2017 2016 Total assets $790000 $900000 Net sale

s 680000 600000 Gross profit 300000 260000 Net income 54400 110000 Weighted average number of common shares outstanding 50000 50000 Market price of common stock $40 $36 The profit margin ratio for 2017 is
Business
1 answer:
Oksanka [162]3 years ago
8 0

Answer: 8%

Explanation:

Profit Margin = Net income / Net sales

2017 Net income ⇒ $54,400

2017 Net Sales ⇒ $680,000

Profit Margin₂₀₁₇ = 54,400/680,000

= 0.08

= 8%

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