Plano Corporation reported net income ($ 24,000), net sales ($ 400,000), and average assets ($ 600,000) for

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Plano Corporation reported net income $\$ 24,000$, net sales $\$ 400,000$, and average assets $\$ 600,000$ for 1996. The 1996 profit margin was:

a. $6 \%$.

b. $12 \%$.

c. $40 \%$.

d. $200 \%$.

(SO 6)

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Financial Accounting

ISBN: 9780471169208

2nd Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 14, 2024 01:13 AM

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Plano Corporation reported net income ($ 24,000), net sales ($ 400,000), and average assets ($ 600,000) for

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Financial Accounting

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