Calculate the net profit margin for abc biz

Reference no: EM132676082

You are the accountant for ABC Biz, a small enterprise that sells widgets. The accounting records for the business after their first year of operations (30 June 2020) are as follows:

Sales 71077

Cost of goods sold 34679

Interest expense 18582

Electricity expense 17776

Rent expense 18212

Wages expense 20113

Accrued expense 27856

Cash 24581

Accounts receivable 32326

Inventory 36037

Accounts payable 16981

Bank loan due 30 June 2022 22341

Problem 1: Calculate the net profit margin. Record your answer to 2 decimal places

Reference no: EM132676082

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