The following amounts were taken from the financial statements of Sheffield Company:      2020    2019 Total assets $910000 $1040000 Net sales    880000    690000 Gross profit    351000    319000 Net income    161040    125000 Weighted average number of common shares outstanding    80000

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter9: Metric-analysis Of Financial Statements
Section: Chapter Questions
Problem 9.4.16P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...
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The following amounts were taken from the financial statements of Sheffield Company:

 
   2020
   2019
Total assets
$910000
$1040000
Net sales
   880000
   690000
Gross profit
   351000
   319000
Net income
   161040
   125000
Weighted average number of common shares outstanding
   80000
   80000
Market price of common stock
  $30
        $41

The profit margin for 2020 is

39.9%.
9.1%.
17.7%.
18.3%.
 
 
 
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