Vern Thoms is puzzled. His company had a profit mar- gin of 10% in 2017. He feels

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Vern Thoms is puzzled. His company had a profit mar- gin of 10% in 2017. He feels that this is an indication that the company is doing well. Tina Amos, his accountant, says that more information is needed to determine the company's financial well-being. Who is correct? Why?
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Accounting Tools for Business Decision Making

ISBN: 978-1118096895

6th edition

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

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