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A company earned $7,030 in net income for October. Its net sales for October were $18,500. Its profit margin is: Group of answer choices 38% 3.8% 26% 263%

Respuesta :

Answer:

Profit margin = 0.38 or 38%

Explanation:

Given the information:

Income of the october, Profit = $7030

Net sales = $18500

Use below formula to find the profit margin:

Profit margin = net income / net sales

Profit margin = 7030 / 18500

Profit margin = 0.38 or 38%

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