In 2011, Lai Inc. reported a profit margin of 5% before discontinued operations and a profit mar-

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In 2011, Lai Inc. reported a profit margin of 5% before discontinued operations and a profit mar- gin of 8% after discontinued operations. In 2012, the company had no discontinued operations and reported a profit margin of 6.5%. Has Lai's profitability improved or weakened? Explain.
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Financial Accounting Tools for Business Decision Making

ISBN: 978-1118024492

5th Canadian edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine

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