Question
The following amounts were taken from the financial statements of Marigold Company: 2021 2020 Total assets $792000 $1030000 Net sales 770000 650000 Gross profit 300000
The following amounts were taken from the financial statements of Marigold Company:
| 2021 | 2020 | |
|---|---|---|
| Total assets | $792000 | $1030000 |
| Net sales | 770000 | 650000 |
| Gross profit | 300000 | 360000 |
| Net income | 107800 | 120000 |
| Weighted average number of common shares outstanding | 90000 | 90000 |
| Market price of common stock | $44 | $39 |
The profit margin ratio for 2021 is
14%.
18%.
16%.
13%.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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
Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
