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denver, incorporated, has sales of $26 million, total assets of $24.8 million, and total debt of $8.1 million. assume the profit margin is 10 percent. What is the company's net income?
denver, incorporated, has sales of $26 million, total assets of $24.8 million, and total debt of $8.1 million. assume the profit margin is 10 percent. What is the company's net income?
Final answer:Denver,Incorporated'snet income is $2.6 million, which is calculated by multiplying sales ($26 million) by the profit margin (10%).Explanation:The company's net income can be calculated using the givenprofit marginof 10 percent. As profit margin is the ratio of net income to sales, we can find the net income by multiplying the sales by the profit margin. In this case, Denver, Incorporated has sales of $26 million and a profit margin of 10 percent, so its net income would be $26 million * 0.10 = $2.6 million.Learn more about Net Income here:brainly.com/question/32614743#SPJ11...
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