Edison Co. reported the following for the current year: net sales of $80,000; cost of goods sold
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Edison Co. reported the following for the current year: net sales of $80,000; cost of goods sold of $56,000; net income of$16,000; beginning balance of total assets of $60,000; and ending balance of total assets of $68,000. Compute
(a) Profit margin
(b) Return on total assets.
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