Determine the net sales
A company has a profit margin of 5%. If net income is equal to $83,000 and average total assets is equal to $45,000, how much are net sales?
a) $4,150
b) $2,250
c) $1,660,000
d) $6,400
e) $128,000
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A company has sales of $5,417,000, a gross profit ratio of 35%, ending merchandise inventory of $201,425, and total current assets of $1,539,600. What is the days sales' in inventory ratio for the year?
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