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What is the company rate of return on sales

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Question - A company's year-end financial statements lists the following figures.

Net income $49,500

Net sales $550,000

Current assets $1,050,000

Current liabilities $115,000

Total assets $2,200,000

Required - Based on this information, what is the company's rate of return on sales?

 

Reference no: EM132526273

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