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Compute Profit Margin Ratio Given the Following Information

question 90

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Compute profit margin ratio given the following information.
Cost of goods sold: $28,000
Net income: $21,400
Gross profit: $400,000


Definitions:

Elevation

The altitude of a place above sea level or ground level.

Geologic Cross Section

A two-dimensional diagram representing a slice through Earth that depicts the subsurface geometry of rock units and geologic structures.

Surface

The outermost or uppermost layer of an object or area.

Petroleum Company

A business entity engaged in the exploration, extraction, refining, transporting, and selling of petroleum products.

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