Question
The Preston Company reported the following income for 2014: Sales $ 35,500 Cost of goods sold 9,100 Gross margin $ 26,400 Selling and administrative expense
The Preston Company reported the following income for 2014: Sales $ 35,500 Cost of goods sold 9,100 Gross margin $ 26,400 Selling and administrative expense 11,100 Operating income $ 15,300 Interest expense 5,100 Income before taxes $ 10,200 Income tax expense 3,060 Net income $ 7,140
What is the company's net margin?
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Internal Auditing Assurance & Advisory Services
Authors: Urton L. Anderson, Michael J. Head, Sridhar Ramamoorti, Cris Riddle, Mark Salamasick, Paul J. Sobel
4th Edition
0894139878, 978-0894139871
