At the End of 2014, Doran Corporation Reported Net Income

question 88

Essay

At the end of 2014, Doran Corporation reported net income of $70,000, gross sales revenue of $1,525,000, and sales returns of $125,000.
Required:
Calculate the profit margin ratio.

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Definitions:

Education

The process of receiving or giving systematic instruction, especially at a school or university.

Enjoyment

Enjoyment refers to the state or feeling of taking pleasure in something.

Linear

Describes a relationship or function that forms a straight line when graphed, denoting a constant rate of change between two variables.

Variables

Represent characteristics or quantities that can change and have different values for different individuals or objects in a study.