question 85
Multiple Choice
Following are the financial statements for Starman Corporation for the year ended December 31,20xx.Assume that all balance sheet amounts represent both average and ending figures. Starman Corporation
Balance Sheet
December 31,20xx
Assets Cash Marketable securities Accounts receivable Inventory Long-term receivables Property, plant, and equipment Total assets Liabilities and Stockholders’ Equity Current liabilities Long-term liabilities Stockholders’ equity Total liabilities and stockholders’ equity $20,00030,00050,000100,00035,00065,000$300,000$100,00060,000140,000$300,000 Starman Corporation Income Statement For the Year Ended December 31,20×× Net sales Cost of goods sold Gross margin Operating expenses Income before income taxes Income taxes expense Net income $400,000240,000$160,00040,000$120,00030,000$90,000
What is the profit margin for this corporation? Round your answer to one decimal place.
Definitions:
Strategic Plans
Long-term planning documents that articulate an organization's goals, strategies for achieving those goals, and measures for assessing progress.
Operational Plan
A detailed outline of how a strategy will be implemented in terms of resources and actions needed to achieve specific objectives.
System Capacity
The maximum output or performance level that a system can handle, which can refer to organizations, networks, or technical systems.
Nonprofit's System
A nonprofit's system comprises the organizational structures, processes, and practices that enable a nonprofit organization to pursue its mission effectively.