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This is the third of fiveassociatedEisenmengerElectronicEnterprises problems. All use these same figures: The most recent Income StatementforEisenmengerElectronicEnterprises (EEE) shows Sales:$11,635,000 Cost of Goods Sold:$8,975,000 Earnings
This is the third of fiveassociatedEisenmengerElectronicEnterprises problems. All use these same figures:
The most recent Income StatementforEisenmengerElectronicEnterprises (EEE) shows
Sales:$11,635,000
Cost of Goods Sold:$8,975,000
Earnings before interest and taxes (EBIT):$1,287,500
Net Income:$616,655
(The company paid income tax at a 36% average combined federal-plus-state rate.)
The most recent balance sheet shows
Total Assets:$7,420,000
Owner'sEquity:$4,180,000
Debt:$3,240,000
Compute the net profit margin in % to 2 decimal places (xx.xx%).
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