Vance Corporation's Partial Income Statement Is as Follows Required:
Determine the Profit Margin

Essay

Vance Corporation's partial income statement is as follows: $$\begin{array} { l r } \text { Sales } & \$ 1,300,000 \\\text { Cost of sales } & 300,000 \\\text { Selling expenses } & 210,000 \\\text { General and admin. expenses } & 150,000\end{array}$$ Required:
Determine the profit margin.Would you invest in Vance Corporation? Explain your answer.