Question
Assume the Residential Division of Krandell Faucets had the following results last year: Net sales revenue $17,600,000 Operating income 1,760,000 Average total assets 5,500,000 Management's
Assume the Residential Division of
Krandell
Faucets had the following results last year:
| Net sales revenue | $17,600,000 |
|---|---|
| Operating income | 1,760,000 |
| Average total assets | 5,500,000 |
| Management's target rate of return | 18% |
What is the division's profit margin ratio?
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
