During the current year, Sokowski Manufacturing earned income of $446,500 from total sales of $7,500,000 and average capital assets of $11,700,000. What is the sales margin? If required, round your answer to one decimal place.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter12: Balanced Scorecard And Other Performance Measures
Section: Chapter Questions
Problem 5EA: During the current year, Sokowski Manufacturing earned income of $350,000 from total sales of...
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During the current year, Sokowski Manufacturing earned income of $446,500 from total sales of $7,500,000 and average capital assets of $11,700,000. What is the sales margin? If required, round your answer to one decimal place.

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