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

Essay

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