Neef Corporation has provided the following financial data from its balance sheet and income statement:

-The company's net profit margin percentage for Year 2 is closest to:
A) 37.3%
B) 2.6%
C) 1.4%
D) 0.9%

Question

Neef Corporation has provided the following financial data from its balance sheet and income statement:
  
-The company's net profit margin percentage for Year 2 is closest to:
A) 37.3% 
B) 2.6% 
C) 1.4% 
D) 0.9%

Quizplus · Accepted Answer

Net profit margin percentage = Net income ÷ Sales
= $13,000 ÷ $1,420,000 = 0.9% (rounded)

Neef Corporation Has Provided the Following Financial Data from Its