The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.

-What is the firm's profit margin?
A) 1.40%
B) 1.56%
C) 1.73%
D) 1.93%
E) 2.12%

Question

The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
 
-What is the firm's profit margin?
A) 1.40% 
B) 1.56% 
C) 1.73% 
D) 1.93% 
E) 2.12%

Quizplus · Accepted Answer

The Answer of 
The balance sheet and income statement shown below are for Pettijohn Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over.
 
-What is the firm's profit margin?
A) 1.40% 
B) 1.56% 
C) 1.73% 
D) 1.93% 
E) 2.12%

The Balance Sheet and Income Statement Shown Below Are for Pettijohn