From the Information Provided, Calculate Giuseppe's Profit Margin Ratio for Each

question 144

Essay

From the information provided, calculate Giuseppe's profit margin ratio for each of the three years. Comment on the results, assuming that the industry average for the profit margin ratio is 6% for each of the three years.
$\begin{array}{lrccc}&\underline{2017}&\underline{2016}&\underline{2015}\\\text { Net income } & \$ 2,630 & \$ 2,100 & \$ 1,850 \\\text { Net Sales } & 36,500 & 32,850 & 31,200 \\\text { Total Assets } & 400,000 & 385,000 & 350,000\end{array}$

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