Problem related to preferred stock dividends

Reference no: EM13159698

For 2007 Mossland Corporation reported gross profit $100,000; net income of $24,000; sales $500,000; net sales $400,000; and average share outstanding 6,000. There were no preferred stock dividends. What was the 2007 profit margin?

A. 20%

B. 25%

C. 6%

D. 4.8%

Reference no: EM13159698

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