Question
The account balances for The Red Cross are listed below. All balances are as of December 31, 2023, except where noted otherwise. Accounts Payable $7,700
The account balances for The Red Cross are listed below. All balances are as of December 31, 2023, except where noted otherwise. Accounts Payable $7,700 Rent Expense $8,400 Accounts Receivable 13,400 Equipment 115,500 Wages Payable 3,600 Furniture 30,800 Prepaid Expenses 1,700 Notes Payable (due 12/31/25) 49,000 Dividends 2,800 Accumulated Depreciation 14,630 Sales Revenue 153,650 Cash 36,400 Notes Payable (due 4/30/24) 1,400 Common Stock 28,000 Cost of Goods Sold 58,100 Goodwill 70,000 Loss on Sale of Equipment 4,900 Retained Earnings (1/1/23) 19,810 Inventory 13,300 Marketable Equity Securities 600 Advertising Expense 4,200 Depreciation Expense 14,630 Insurance Expense 2,800 Unearned Revenue 5,900. What is the Profit Margin for 2023?
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