Max wants to know if his company s profitability performance has
Max wants to know if his company’s profitability performance has increased from 2010 to 2011. Specifically, he wants to know if the company is maintaining its margin on revenues. The company had net income of $24,000 in 2010 and $25,000 in 2011. Total revenues were $200,000 in 2010 and $240,000 in 2011. Calculate profit margin for 2010 and 2011 and comment on the results. (Note: Round your answer to three decimal places.)

Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
    Tutors
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
OR
Relevant Tutors available to help