Kijijo Auctions runs an online auction company. Its year-end financial statements indicate the following results. Total assets
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Question:
Kijijo Auctions runs an online auction company. Its year-end financial statements indicate the following results.
Total assets = $120,000
Total liabilities = $70,000
Common shares = $12,000
Dividends = $5,200 Expenses = $82,000
Retained earnings (beginning of year) = $17,000
1. Calculate the company's net profit margin expressed as a percentage
2. Indicate if it represents an improvement or deterioration in relation to the 18 percent net profit margin obtained in the previous year
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
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