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

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Accounting

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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

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