Mason Corporation had $1,130,000 in invested assets, sales of $1,283,000, operating income amounting to $236,000, and adesired minimum return on investment of 15%.The profit margin (rounded to one decimal place) for Mason Corporation is○ a. 88.1%O b. 20.9%O c. 15.0%O d. 18.4%

Step 1:Given:Invested assets = $1,130,000Sales = $1,283,000Operating income = $236,000Desired…

Answered: Mason Corporation had $1,130,000 in…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Mason Corporation had $1,130,000 in invested assets, sales of $1,283,000, operating income amounting to $236,000, and a desired minimum return on investment of 15%. The profit margin (rounded to one decimal place) for Mason Corporation is ○ a. 88.1% O b. 20.9% O c. 15.0% O d. 18.4%