Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. in 2020, lean company ltd reported net sales of $5

In 2020, Lean Company Ltd reported net sales of $500,000 in their financial statements. The...

50.1K

Verified Solution

Question

Accounting

image
In 2020, Lean Company Ltd reported net sales of $500,000 in their financial statements. The company also reported average assets of $800,000 and liabilities of $390,000. If the company's profit margin for the said year was 11.6%, how much is their net income? Select one: a. $58,000 b. $52.000 c. $64.032 d. $92.800

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1 Solve the equation 3x 5 17 a x 6 C x 4 b x...

Algebra
Q

Problem 22-3 (LG 22-1) Consider the following balance sheet for Watchover Savings, Inc. (in millions): Assets Liabilities and Equity   Floating-rate...

Finance
Q

Define: a) Tight Junction b) Adherens Junction c) Desmosome d) Gap Junction e) Hemidesmosome

Biology
Q

Membrane Potential The resting membrane potential of a neuron is _________.   The membrane potential changes when _________. A...

Medical Sciences
Q

Highpoint owns a 95 percent majority voting interest in Middlebury. In turn, Middlebury owns an 80...

Accounting
Q

10 The variation of magnetic susceptibility X for a diamagnetic material with temperature is best...

Physics
Q

Write an equation of the circle with center 7 4 and radius 9

Basic Math
Q

A coin is tossed four times Construct a sample space for this experiment and answer...

Statistics
Q

Show all the necessary steps for full credit 1 10 pts Use the graph to...

Calculus
Q

Divide using synthetic division 4 2y 13y 25y 29y 50 y 4 2y 13y 25y...

Algebra
Q

March 31 March 1 $ 10,500 4,800 $ 9,200 5,600 Raw...

Accounting
Q

EXERCISE 4 For each cost that appears in items 1 through 6 below, select the...

Accounting