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Home Q & A Board Other Fields Homework Help Business Accounting
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7 years ago
Kurtz Logistics provides the following information:

Operating income   $1,600,000
Net sales   $14,000,000
Average total assets   $1,900,000
Management's target rate of return   20%

What is the company's profit margin ratio? (Round your answer to two decimal places.)
A) 11.43%
B) 13.57%
C) 84.21%
D) 1.10%
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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#2
7 years ago
This was certainly a tough question, loving the expertise
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