Question

Durbin Corporation reported net sales of $250,000, cost of goods sold of $150,000, operating expenses of $50,000, net income of $32,500, beginning total assets of $520,000, and ending total assets of $600,000. Calculate each of the following values and explain what they mean:
(a) Profit margin and
(b) Gross profit rate.



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  • CreatedApril 07, 2014
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