A company's assets consist of $123,456 of cash, $237,543 of accounts receivable, $348,876 of inventory, and $1,456,987 of plant and equipment. Its liabilities consist of $187,694 of accounts payable, $56,895 of accruals, and $622,156 of long-term debt. The company's annual sales are $3,678,775, its earnings before interest and taxes are $551,816, its earnings before taxes are $489,601, and its net income is $293,760. What is the company's profit margin?

A company's assets consist of $123,456 of cash, $237,543 of accounts receivable, $348,876 of inventory, and $1,456,987 of plant and equipment. Its liabilities consist of $187,694 of accounts payable, $56,895 of accruals, and $622,156 of long-term debt. The company's annual sales are $3,678,775, its earnings before interest and taxes are $551,816, its earnings before taxes are $489,601, and its net income is $293,760. What is the company's profit margin?

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Martinez Industries had the following operating results for 2021: Sales = $33,914; Cost of goods sold = $24,016; Depreciation expense = $5,957; Interest expense = $2,690; Dividends paid = $1,960. At the beginning of the year, net fixed assets were $19,900, current assets were $7,026, and current liabilities were $3,968. At the end of the year, net fixed assets were $24,466, current assets were $8,660, and current liabilities were $4,637. The tax rate for 2021 was 23 percent. What is net income for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is the operating cash flow for 2021? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) What is the cash flow from assets for 2021? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) d-1. If no new debt was issued during the…
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Mikey's Bar and Grill has total assets of $23 million, of which $17 million are current assets. Cash makes up 10 percent of the current assets and accounts receivable makes up another 40 percent of current assets. Mikey's gross plant and equipment has a book value of $18.5 million, and other long-term assets have a book value of $400,000.

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