The Following Financial Statement Information Is Available for James Corporation

question 130

Multiple Choice

The following financial statement information is available for James Corporation: $\begin{array}{lrr}&2020&2019\\\text { Net sales } & \$ 780,000 & \$ 697,000 \\\text { Cost of goods sold } & 406,000 & 377,000 \\\text { Net income } & 120,000 & 80,000 \\\text { Tax expense } & 48,000 & 29,000 \\\text { Interest expense } & 14,000 & 14,000\end{array}$ The profit margin for 2020 is

• A) 15.4%.
• B) 47.9%.
• C) 32.1%.
• D) 13.5%.

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Definitions:

Ethical Knowing

The component of knowledge that deals with moral principles and ethics in decision-making processes, especially relevant in healthcare settings.

Clinical Judgement Model

A framework used in nursing and healthcare to guide decision-making based on assessment data, patient needs, and evidence.

Noticing Phase

The initial stage of a process where attention is given to certain signals, often leading to the recognition of significant information.

Responding Phase

A stage in a process where actions are taken in reaction to an event or situation.