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In response to complaints about high prices, a grocery chain runs the following advertising campaign: If you pay your child $6 to go buy $50
In response to complaints about high prices, a grocery chain runs the following advertising campaign: If you pay your child $6 to go buy $50 worth of groceries, then your child makes twice as much on the trip as we do. Youve collected the following information from the grocery chains financial statements:
(millions)
Sales $ 549
Net income 30
Total assets 482
Total debt 369
What is the profit margin for the store? (in %) (round to 4 decimal places)
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