Royce Corp's sales last year were $260,000, and its net income was $23,000. What was its profit

Question:

Royce Corp's sales last year were $260,000, and its net income was $23,000. What was its profit margin?
a. 7.61%
b. 7.25%
c. 8.85%
d. 8.58%
e. 10.97%

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Intermediate Accounting

ISBN: 978-0132162302

1st edition

Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella

See More Books

Question Posted: Jan 09, 2013 02:36 AM

See More Questions

Orono Corp.'s sales last year were $435,000, its operating costs were $362,500, and its interest charges were $12,500. What was the firm's time's interest earned (TIE) ratio?
Cochrane Associate\'s net sales last year were $525 million. If sales grow at 7.5% per year, how large (in millions) will they be 8 years later\'?
Ryngard Corp's sales last year were $38,000, and its total assets were $16,000. What was its total assets turnover ratio (TATO)? a. 2.26 b. 2.04 c. 2.38 d. 2.49 e. 2.14
Given are five observations for two variables, x and y. a. Develop a scatter diagram for these data. b. What does the scatter diagram developed in part (a) indicate about the relationship between the...
Use geometry software to investigate the form y = ax + b of a linear function. a. On the same coordinate plane, graph the lines y = 0.5x + 4, y = x + 4, y = 2x + 4, y = 5x + 4, y = - 3x + 4, and y =...
Engine oil at 100C and a velocity of 0.1 m/s flows over both surfaces of a 1-m-long flat plate maintained at 20C. Determine: (a) The velocity and thermal boundary layer thicknesses at the trailing...
A diesel cycle operates at a pressure of 1 bar at the beginning of compression and the volume is compressed to $1 / 15^{\text {th }}$ of the initial volume. Heat is supplied until the volume is...
A New Hampshire resort offers year-round activities: in winter, skiing and other cold-weather activities and, in summer, golf, tennis, and hiking. The resorts operating costs are essentially the same...
Calculate C in the units of d 2 /AU 3 for each orbital body listed in this table. Use the formula T 2 = Ca 3 and the proper number of significant digits in your value for C. The first one has been...
Nancy Nanny opened a child-care facility on January 1, Year 1. Use the Chart of Accounts below to complete the requirements on the following pages for Nancy Nanny Child Care. NANCY NANNY CHILD...
Beranek Corp has $665,000 of assets, and it uses no debt--it is financed only with common equity. The new CFO wants to employ enough debt to raise the debt/assets ratio to 40%, using the proceeds...
Meyer Inc's assets are $745,000, and its total debt outstanding is $185,000. The new CFO wants to establish a debt ratio of 55%. The size of the firm does not change. How much debt must the company...
What is space weathering?
What other advantages can BCM gain from partnering with EMAs, NGOs and other business continuity professionals?
What other emergency preparedness skills might the company already have on hand either through existing relationships, employee involvement or through corporate involvement in the community?
How is simulation modeling useful in supply chain risk analysis?
What other activities in one phase affect activities in another?
How could weather forecasting inaccuracies interfere with executing the strategy?
Everything outside an organization that might affect the organization is known as its ______ environment.
Solve the relation Exz:Solve therelation ne %3D
A company's accounts for the 17 months to 30 June 2020 include: The debentures were acquired (not for trade purposes) on 1 May 2019. Interest is payable half-yearly on 30 April and 31 October. Show...
This problem focuses on the following question: Is it ethical for a CPA (or CPA firm) to provide similar services to companies that compete directly with one another? These services may include...
This problem focuses on the following question: Is it ethical for a CPA (or CPA firm) to provide similar services to companies that compete directly with one another? These services may include...
The Sarbanes-Oxley Act requires that the CEO (chief executive officer) and CFO (chief financial officer) of publicly traded corporations include statements of personal certification in the...
A) Translate the following C into RV641 assembly. Be sure to follow the calling (Refer to slide22 of lec6_postZoom.pdf) and comment each line of your assembly. Remember that long long is 64 bits in...
Given a Binary Tree, find the maximum sum path from a leaf to root. Input: 1 A Input: 10 -27 4 23 Output: Explanation Following the path 3-1, results in a sum of 4, which is the maximum path sum from...
On December 1 , 2 0 1 5 , your company pays $ 2 4 , 0 0 0 for rent on your store that covers the next 6 months. When you paid the cash, you debited Prepaid Rent.. The adjusting journal entry on...

Royce Corp's sales last year were $260,000, and its net income was $23,000. What was its profit

Question:

Step by Step Answer:

c 885 Computation of profit margin P...View the full answer

Intermediate Accounting

Students also viewed these Finance questions