To two decimals, Power Corp.'s profit margin on sales for 2020 is

Name: To two decimals, Power Corp.'s profit margin on sales for 2020 is
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Question

Quizplus · Accepted Answer

To find the profit margin, we divide the net profit by the total revenue and express it as a percentage. From the financial statement, we can see that the net profit for 2020 is $706,000 and the total revenue is $5,336,000. 
Profit margin = (Net profit / Total revenue) x 100% 
= ($706,000 / $5,336,000) x 100% 
= 13.23% 
Therefore, the correct answer is C.

To Two Decimals, Power Corp