Plano Corporation reported net income $24,000, net sales $400,000, and average assets $600,000 for 2019. What is

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Plano Corporation reported net income $24,000, net sales $400,000, and average assets $600,000 for 2019.

What is the 2019 profit margin?

(a) 6%.

(b) 12%.

(c) 40%.

(d) 200%.

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Financial Accounting

ISBN: 9781119298229,9781119305842

10th Edition

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

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Question Posted: Feb 27, 2024 03:03 AM

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Plano Corporation reported net income $24,000, net sales $400,000, and average assets $600,000 for 2019. What is

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Financial Accounting

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