Li Retailing Reported the Following Items for the Current Year

question 63

Multiple Choice

Li Retailing reported the following items for the current year: Sales = $3,000,000; Cost of Goods Sold = $1,500,000; Depreciation Expense = $170,000; Administrative Expenses = $150,000; Interest Expense = $30,000; Marketing Expenses = $80,000; and Taxes = $300,000; Li's operating profit margin is equal to

• A) 25.67%
• B) 35.67%
• C) 36.67%
• D) 50.00%

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Definitions:

Prairie Pothole Region

A geographic area in North America characterized by thousands of shallow wetlands, vital for waterfowl nesting.

Southern Ontario

A region in Canada, characterized by its economic activity, agricultural lands, and being home to a significant portion of Canada’s population.

Canada's Wetlands

Ecosystems characterized by the presence of water, supporting diverse plant and animal life, including species unique to these habitats.

West Coast Salmon

Salmon species found along the Pacific Coast of North America, facing challenges from overfishing, habitat loss, and climate change.