Multiple Choice
Morrison Motors has total equity of $289,100 and net income of $64,500. The debt-equity ratio is 0.45 and the total asset turnover is 1.6. What is the profit margin?
A) 3.10 percent
B) 5.23 percent
C) 5.67 percent
D) 8.21 percent
E) 9.62 percent
Correct Answer:
Verified
Correct Answer:
Verified
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