Compute Profit Margin Ratio Given the Following Information

question 171

Multiple Choice

Compute profit margin ratio given the following information.
Cost of Goods Sold $53,000
Net Income 60,000
Gross Profit 800,000

• A)6.63%
• B)7.03%
• C)93.8%
• D)6.2%
• E)88.33%

---

Definitions:

Mental Disabilities

A range of conditions that affect mood, thinking, and behavior, which may impact day-to-day functioning and social interaction.

Health Problems

Issues or conditions that negatively impact an individual's physical or mental wellbeing.

Racial-Ethnic Families

Family units formed by individuals of different racial or ethnic backgrounds, focusing on their cultural practices, heritage, and lineage.

Economic Recessions

Periods of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.