Use the following financial statement information as of the end of each year to answer this

Use the following financial statement information as of the end of each year to answer this

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 Use the following financial statement information as of the end of each year to answer this question.

 
2017
2016
Inventory
$54,000
$48,000
Current assets
81,000
106,000
Total assets
392,000
336,000
Current liabilities
27,000
36,000
Total liabilities
102,000
88,000
Total stockholders’ equity
290,000
248,000
Preferred stock
10,000
10,000
Net sales
784,000
697,000
Cost of goods sold
306,000
277,000
Net income
34,000
90,000
Tax expense
22,000
18,000
Interest expense
12,000
12,000
Dividends paid to preferred stockholders
2,000
2,000
Dividends paid to common shareholders
1,000
1,000

Compute the profit margin for 2017.






4.3%


 


8.9%


 


11.7%


 


8.4%


 

 
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