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During the year ended December 31, 2022, Bjornstad Corporation had the following results: net sales $267,000, cost of goods sold $107,000, net income $92,400, operating expenses $55,400, and net cash provided by operating activities $108,950. What was the company's profit margin?

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TomShelby

Answer:

profit margin 34.61%

Explanation:

[tex]profit \: \: margin = \frac{profit}{sales}[/tex]

The profit margins represents how many cent or the percentage of sales which converts into net income.

net income: 92,400

net sales: 267,000

[tex]profit \: \: margin = \frac{92,400}{267,000}[/tex]

profit margin = 0.346067415 = 34.61%