A firm has total sales of $32 million. It has gross profit of $11 million, operating income of $9 million, and net income of $3 million. What is the firm's net profit margin?

Question 10 options:

9.4%

11.3%

8.5%

7.5%

47%

Answer rating: 100% (QA)

The net profit margin is calculated by dividing the net income by the total sales and ... View the full answer