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Required information (The following information applies to the questions displayed below.) The adjusted trial balance for Chiara Company as of December 31, 2018, follows. Credit
Required information (The following information applies to the questions displayed below.) The adjusted trial balance for Chiara Company as of December 31, 2018, follows. Credit $ Debit 30,000 52,000 18,000 168,000 16,000 168,000 $ 50,000 138,000 18,000 78,000 Cash Accounts receivable Interest receivable Notes receivable (due in 90 days) Office supplies Automobiles Accumulated depreciation-Automobiles Equipment Accumulated depreciation-Equipment Land Accounts payable Interest payable Salaries payable Unearned fees Long-term notes payable Common stock Retained earnings, December 31, 2017 Dividends Fees earned Interest earned Depreciation expense-Automobiles Depreciation expense-Equipment Salaries expense Wages expense Interest expense office supplies expense Advertising expense Repairs expense-Automobiles Totals 96,000 20,000 19,000 30,000 138,000 20,000 235,800 46,000 484,000 24,000 26,000 18,000 188,000 40,000 32,000 34,000 58,000 24,800 $1,134,800 $1,134,800 2. Calculate the profit margin for year 2018. Profit margin Choose Denominator: Choose Numerator: 1 = = Profit margin Profit margin
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