The 2023 annual report for Sarasota Industries Inc. contained the following information: Dec. 31, 2022...
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Accounting
The 2023 annual report for Sarasota Industries Inc. contained the following information:
Dec. 31, 2022 Dec. 31, 2023
Total assets $554,000 $604,000
Total liabilities 65,300 88,500
Net revenue 400,000 500,000
Net income 52,000 37,000
Calculate the profit margin on sales for 2023.
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