A company had net income of net sales of

Question

A company had net income of $40,000, net sales of $300,000, and average total assets of $200,000. Its profit margin and total asset turnover were respectively:
A. 13.3%; 0.2
B. 13.3%; 1.5
C. 2.0%; 1.5
D. 1.5%; 0.2
E. 1.5%; 13.3

Answer

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