Asked by Katherine Marshall on May 22, 2024
Verified
Leete Inc.reported the following results from last year's operations: 
Last year's margin was closest to:
A) 79.0%
B) 31.0%
C) 20.0%
D) 10.0%
Operations
The day-to-day activities involved in the running of a business or production of goods and services.
- Calculate and interpret key financial ratios and performance measures, including margin, turnover, and residual income.
Verified Answer
ZJ
Zhongyang JiangMay 28, 2024
Final Answer :
D
Explanation :
Margin = Net operating income ÷ Sales = $1,400,000 ÷ $14,000,000 = 10.0%
Learning Objectives
- Calculate and interpret key financial ratios and performance measures, including margin, turnover, and residual income.