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The account balances for Premera Blue Cross are listed below. All balances are as of...

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Accounting

The account balances for Premera Blue Cross are listed below. All balances are as of December 31, 2023, except where noted otherwise.

Accounts Payable $7,700 Rent Expense $8,400
Accounts Receivable 13,400 Equipment 115,500
Wages Payable 3,600 Furniture 30,800
Prepaid Expenses 1,700 Notes Payable (due 12/31/25) 49,000
Dividends 2,800 Accumulated Depreciation 14,630
Sales Revenue 153,650 Cash 36,400
Notes Payable (due 4/30/24) 1,400 Common Stock 28,000
Cost of Goods Sold 58,100 Goodwill 70,000
Loss on Sale of Equipment 4,900 Retained Earnings (1/1/23) 19,810
Inventory 13,300 Marketable Equity Securities 600
Advertising Expense 4,200 Depreciation Expense 14,630
Insurance Expense 2,800 Unearned Revenue 5,900

Determine the Profit Margin for 2023:

Select one:

a. 58.33%

b. 39.45%

c. 25.00%

d. 40.19%

e. 42.64%

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