The Following Information Is Available for the Wooden Company From the Information Provided,calculate Wooden's Profit Margin Ratio for Each

question 165

Essay

The following information is available for the Wooden Company:
$\begin{array}{|l|r|r|r|}\hline&2013 & 2012 & 2011\\\hline \text { Net income } & \$ 2,630 & \$ 2,100 & \$ 1,850 \\\hline \text { Net sales } & 36,500 & 32,850 & 31,200 \\\hline \text { Total assets } & 400,000 & 385,000 & 350,000\\\hline \end{array}$
From the information provided,calculate Wooden'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.

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