Question
Use the following Income Statement and Balance Sheet Information for 2018 to answer the question below. This is a Retail Company. All numbers are in
Use the following Income Statement and Balance Sheet Information for 2018 to answer the question below. This is a Retail Company. All numbers are in Millions. Income Statement Total Sales 209.8 Cost of Sales 155.2 Gross Profit 209.8-155.2 Selling and Administrative Expenses 18.7 Research and Development 5.4 Depreciation and Amortization 2.4 Other Income 4.8 EBIT, Operating Profit 209.8-155.2-18.7-5.4-2.4+4.8 Interest Expense 6.0 Pretax Income 209.8-155.2-18.7-5.4-2.4+4.8-6.0 Taxes ( 209.8-155.2-18.7-5.4-2.4+4.8-6.0 )*0.30 Net Income ( 209.8-155.2-18.7-5.4-2.4+4.8-6.0 )*0.70 Balance Sheet Assets Liabilities Cash 71.2 Accounts Payable 40.0 Accounts Receivable 53.9 Notes Payable/Short term debt 1.8 Inventories 5.3 Total Current Assets 71.2+53.9+5.3 Total Current Liabilities 40.0+1.8 Net property, plant and equipment 92.4 Long-term debt 88.7 Total long-term assets 92.4 Total long-term debt liabilities 88.7 Total Liabilities 40.0+1.8+88.7 Stockholders' Equity (Total Equity) 71.2+ 53.9+5.3+92.4-40.0-1.8-88.7 Total Assets 71.2+53.9+5.3+92.4 Total Liabilities and Stockholders' Equity 40.0+1.8+88.7+ 71.2+ 53.9+5.3+92.4-40.0-1.8-88.7 What was the company's Operating Margin in 2018?.
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