Question
Crane reported the following in its income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net income 2025 Profit margin
Crane reported the following in its income statements. Net sales Cost of goods sold Operating expenses Income tax expense Net income 2025 Profit margin for 2025 $99,000 58,410 15,530 11,200 $13,860 2024 $120,000 74,400 18,000 14,400 $13,200 Calculate profit margin for 2025. (Round answer to 1 decimal place, e.g. 52.7%.) %
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Intermediate Accounting
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
10th Edition
324300980, 978-0324300987
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