Homework SourseWhat is the companys net margin round your final answer to t
What is the company’s net margin? (round your final answer to two decimal places)
The Preston Company reported the following income for 2014 Sales 37000 9,400 Cost of goods sold Gross margin Selling and administrative expense 27600 11,400 Operating income Interest expense 16.200 5,400 10.800 3.240 Income before taxes Income tax expense Net income 7.560 What is the company\'s net margin? (Round your final answer to 2 declmal places) 0 74.59% O 4378 29.19% 20.43% Solution
Solution:
Net Income = $7,560
Sales = $37,000
Net margin = Net Income / Sales
= $7,560 / $37,000 = 20.43%
Hence last option is correct.
