Plano Corporation reported net income $24,000; net sales $400,000; and average assets $600,000 for 2012. What is the 2012 profit margin ratio?
(a) 6%.
(b) 12%.
(c) 40%.
(d) 200%.
Use the following financial statement information as of the end of each year to answer Self-Test Questions 12–16.
| 2012 | 2011 | |
| Inventory | $ 54,000 | $ 48,000 |
| Current assets | 81,000 | 106,000 |
| Total assets | 382,000 | 326,000 |
| Current liabilities | 27,000 | 36,000 |
| Total liabilities | 102,000 | 88,000 |
| Common stockholders” equity | 240,000 | 198,000 |
| Net sales | 784,000 | 697,000 |
| Cost of goods sold | 306,000 | 277,000 |
| Net income | 134,000 | 90,000 |
| Tax expense | 22,000 | 18,000 |
| Interest expense | 12,000 | 12,000 |
| Dividends paid to | ||
| preferred stockholders | 4,000 | 4000 |
| Dividends paid to common | 10000 | |
| stockholders | 15,000 |
Economic Debate- Progressive Income Tax For this Economic Debate, we are going to discuss the…
TOPIC: Going Global Discussion Thread 1 (initial post due Wednesday for full credit) Please note:…
Assignment Topic This week will culminate in the creation of a narrated PowerPoint to create…
The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. Assignments submitted…
you need to post your 2-page information flier to share with your Final Project Group.…
discussion: Discuss the methods used at your company to measure and ensure quality products and…