Use This Balance Sheet and Income Statement for the FirstThe Profit Margin of Layton Novelties Is A) 30 Percent

The Answer of Use This Balance Sheet and Income Statement for the FirstThe Profit Margin of Layton Novelties Is A) 30 Percent

Use This Balance Sheet and Income Statement for the FirstThe Profit Margin of Layton Novelties Is A) 30 Percent

The Answer of Use This Balance Sheet and Income Statement for the FirstThe Profit Margin of Layton Novelties Is A) 30 Percent

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Use This Balance Sheet and Income Statement for the First

question 74

Multiple Choice

Use this balance sheet and income statement for the first year of operations for Layton Novelties,Inc.to answer the following question.Use ending balances whenever average balances are required for computing ratios. $Use this balance sheet and income statement for the first year of operations for Layton Novelties,Inc.to answer the following question.Use ending balances whenever average balances are required for computing ratios. \begin{array}{c} \text {Abner Systems, Inc.}\\ \text {Income Statement}\\ \text {For the Year Ended December 31, 2010}\\\begin{array}{lr} \text { Net sales } & \$ 80,000 \\ \text { Costs of goods sold } & \underline{32,000} \\ \text { Gross margin } & \$ 48,000 \\ \text { Operating expenses } & \underline{12,000}\\ \text { Income before income taxes }&\$36,000 \\ \text { Income taxes }& \underline{14,400}\\ \text {Net income } & \$21,600 \end{array}\end{array} The profit margin of Layton Novelties is A) 30 percent. B) 75 percent. C) 60 percent. D) 27 percent.$ $\begin{array}{c}\text {Abner Systems, Inc.}\\\text {Income Statement}\\\text {For the Year Ended December 31, 2010}\\\begin{array}{lr}\text { Net sales } & \$ 80,000 \\\text { Costs of goods sold } & \underline{32,000} \\\text { Gross margin } & \$ 48,000 \\\text { Operating expenses } & \underline{12,000}\\\text { Income before income taxes }&\$36,000 \\\text { Income taxes }& \underline{14,400}\\ \text {Net income } & \$21,600 \end{array}\end{array}$
The profit margin of Layton Novelties is

Definitions:

Tend And Befriend

A theory suggesting that in response to stress, individuals, particularly females, are predisposed to nurturing and forming social alliances.

Secondary Sex Characteristics

Features that appear during puberty but are not directly involved in reproduction, such as breast development in females and facial hair in males.

X Chromosome

One of the two sex chromosomes, playing a crucial role in determining genetic sex and carrying genes for many non-sex related traits.

Y Chromosome

The sex chromosome typically associated with male biological characteristics in humans and most other mammals, partnered with an X chromosome in males.