Financial ratios are used to weigh and evaluate theoperating performance of the firm. Gilliam Corporation hassales in
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Financial ratios are used to weigh and evaluate theoperating performance of the firm. Gilliam Corporation hassales in the amount of $2,400,000, total assets in the amount of$1,100,000 of which current assets equal $560,000, currentliabilities in the amount of $280,000, and net income equal$135,000. Determine the Gilliam Corporation's profit margin. (Note:profit margin = net income/sales)
Related Book For
Fundamental Managerial Accounting Concepts
ISBN: 978-0078110894
6th Edition
Authors: Edmonds, Tsay, olds
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