Question: Selected data from the Florida Fruit Company are presented below: Total assets $1,500,000 Average total assets 1,850,000 Net income 175,000 Net sales 1,300,000 Average common

Selected data from the Florida Fruit Company are presented below:

Total assets

$1,500,000

Average total assets

1,850,000

Net income

175,000

Net sales

1,300,000

Average common stockholders' equity

1,000,000

Net cash provided by operating activities

275,000

Assume that no dividends were declared or paid during the period. What is the profit margin? (be sure to show all work)

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