As of December 31, 2013, Desert Junction Corporation had the following account balances: Cash: $100,000 Accounts Receivable: $27,000 Merchandise Inventory: $35,000 Property, Plant, & Equipment: $150,000 Accounts Payable: $42,000 Long-Term Notes Payable: $122,000 Common Stock: $110,000 Retained Earnings: $38,000 Net Sales totaled $350,000, Cost of Goods Sold was
$180,000, total Operating Expenses were $73,000 and Income Taxes Expense were $27,000 for that same year. On December 31, 2012, total assets were $336,000 and total liabilities were $154,000 . ??Desert Junction Corporation's profit margin for 2013 is:
a. 20 percent.
b. 28 percent.
c. 35 percent.
d. 48 percent.
a
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