The 2017 income statement of Seikoson shows operating revenues of $130,800, selling expenses of $37,100, general...
The 2017 income statement of Seikoson shows operating revenues
of $130,800, selling expenses of $37,100, general and
administrative expenses of $34,900, interest expense of $900, and
income tax expense of $11,430. Seikoson's stockholders' equity was
$280,000 at the beginning of the year and $320,000 at the end of
the year. The company has 20,000 shares of stock outstanding at
December 31, 2017.
Read the information about Seikoson. What is Seikoson's profit
margin (to the closest tenth of a percent)?
Homework Answers
| Operating revenues | $ 130,800 |
| Less: Selling expense | $ (37,100) |
| Less: general and administrative expenses | $ (34,900) |
| Less: interest expense | $ (900) |
| Less: income tax expense | $ (11,430) |
| Net profit | $ 46,470 |
| Profit Margin = Net profit / Operating revenues |
| Profit Margin = $46,470 / $130,800 |
| Profit Margin = 35.5% |
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The 2017 income statement of Seikoson shows operating revenues
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