Mason Corporation had $1,096,000 in invested assets, sales of $1,217,000, operating income amounting to $231,000, and a desired minimum return on investment of 13%. The profit margin (rounded to one decimal place) for Mason Corporation is

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 5EB: During the current year. Plainfield Manufacturing earned income of $845,000 from total sales of...
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Mason Corporation had $1,096,000 in invested assets, sales of $1,217,000, operating income amounting to $231,000, and a desired minimum return on investment of 13%.

The profit margin (rounded to one decimal place) for Mason Corporation is

 

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