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Question 55 1 pts Royce Corp's sales last year were $250,000, and its net income was...

Question:

Question 55 1 pts Royce Corps sales last year were $250,000, and its net income was $23,000. What was its proft margin? 9.57% 8.37% 9.20% 11.32% 9.38% Previous Nex FS F6 F7 8 3 4
Question 55 1 pts Royce Corp's sales last year were $250,000, and its net income was $23,000. What was its proft margin? 9.57% 8.37% 9.20% 11.32% 9.38% Previous Nex FS F6 F7 8 3 4

Answers

C. 9.20%

Profit margin = Net income / Sales = $23,000 / $250,000 = 9.20%

.

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