Libby's Leather Goods has total assets of $350,000,current assets of $74,000,total liabilities of $280,000,accounts receivable of $12,000,net sales of $64,000,and net profit after taxes of $23,000.Calculate the retailer's net profit margin.
A) 18.75 percent
B) 20 percent
C) 25 percent
D) 31.08 percent
E) 35.9 percent

Question

Quizplus · Accepted Answer

Net profit margin = $23,000/$64,000.

Libby's Leather Goods Has Total Assets of $350,000,current Assets of $74,000,total