Ralph Massey is puzzled. His company had a profit margin of 10% in 2010. He feels that

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Ralph Massey is puzzled. His company had a profit margin of 10% in 2010. He feels that this is an indication that the company is doing well. Joan Douglas, his accountant, says that more information is needed to determine the company’s financial well-being. Who is correct? Why?

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Financial Accounting Tools for Business Decision Making

ISBN: 978-0470239803

5th Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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