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Accounting
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25"Profit MarginPXG Co. has total assets of $8.42 million and a total asset turnover of 1.5 times. If the return on assets is 8.3 percent, what is its profit margin?" 29"Profit Marginin response to complaints about high prices, a grocery chain runs the following advertising campaign: If you pay your child $2 to go buy $50 worth of groceries, then your child makes twice as much on the trip as we do." You've collected the following information from the grocery chain's financial statements: (in millions) Sales Net income Total assets Total debt $685.00 13.70 365.00 229.80 Evaluate the grocery chain's claim. What is the basis for the statement? Is this claim misleading? Why or why not
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