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10 November, 21:19

Richard's Sporting Goods reports net income of $150,000, net sales of $520,000, and average assets of $1,600,000. The profit margin is:

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  1. 11 November, 00:25
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    28.8%

    Explanation:

    Profit margin = (Net income or profit / Net sales) X 100%

    = ($150,000 / $520,000) x 100%

    = 28.8%
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