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At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and longterm debt of $7000. Corresponding entries for 2003 are $1600,$2000, and
At year-end 2002, Yung.com had notes payable of $1200, accounts payable of $2400, and longterm debt of $7000. Corresponding entries for 2003 are $1600,$2000, and $5000. Asset values are below. During 2003 , Yung.com had sales of $7000, cost of goods sold of $400, depreciation of $100, and interest paid of $150. The (average) tax rate is 21% and all taxes are paid currently. In 2003, the profit margin is (Keep the sign and two decimal numbers.)
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