Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Consider the following financial information for LB Inc: 2019 2020 Total Assets $ 525 $ 635 Total Liabilities $ 320 $ 320 Sales $ 235
Consider the following financial information for LB Inc:
| 2019 | 2020 |
Total Assets | $ 525 | $ 635 |
Total Liabilities | $ 320 | $ 320 |
|
| |
Sales | $ 235 | |
Cost of Goods Sold | $ 80 | |
Total Operating Expenses | $ 55 | |
Net income |
| $ 65 |
Calculate LB Inc's operating profit margin for 2020.
Group of answer choices
A: 42.55%
B: 18.95%
C: 27.66%
D: 65.96%
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started