The Appliance Division of Electrotech Corporation reported the following results for a recent year Sales $9,000,000 Expenses 7,500,000 Total assets (1/1) 6,000,000 Total assets (12/31) 6,200,000 Refer to the Appliance Division What was the profit margin for The Appliance Division?
a. 17%
b. 24%
c. 25%
d. 69%
A
Profit Margin = Gross Margin/Sales
=$(1,500,000/9,000,000)
=16.7% round to 17%
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