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Rappaport Corp.'s sales last year were $385,000, and its net income after taxes was $23,000. What was its profit margin on sales
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Rappaport Corp.'s sales last year were $385,000, and its net income after taxes was $23,000. What was its profit margin on sales

User Mechlar
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1 Answer

6 votes

Answer:

5.97%

Step-by-step explanation:

Profit margin is an example of profitability ratio

profitability ratio measures the ability of a firm to generate profit from its assets

Profit margin = net income / sales

= $23,000. / $385,000,

User Hubs
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