Ben and Jerry's had total assets of $149,501,000,net income of $6,242,000,and net sales of $209,203,000.Profit margin was 2.98%.

Name: Ben and Jerry's had total assets of $149,501,000,net income of $6,242,000,and net sales of $209,203,000.Profit margin was 2.98%.
Brand: Quizplus
Rating: 4.9 (39 reviews)

Question

Quizplus · Accepted Answer

To calculate profit margin, we divide net income by net sales:
Profit Margin = (Net Income / Net Sales) x 100%
Profit Margin = ($6,242,000 / $209,203,000) x 100%
Profit Margin = 2.98%
Therefore, the given profit margin is true.

Ben and Jerry's Had Total Assets of $149,501,000,net Income of $6,242,000,and