Reference no: EM132462640
Problem - During 2018, Richlieu Corporation reported:
Net sales $30,000,000
Net income 1,500,000
Depreciation expense 400,000
Beginning total assets $12,000,000
Ending total assets 20,000,000
Property, plant, and equipment 8,000,000
Accumulated depreciation 2,000,000
Required - Calculate the Richlieu's profit margin?
A. 5.0%.
B. 3.7%.
C. 6.3%.
D. 8.0%.
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