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Calculate the profit margin ratio

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Question - For the year ended May 31, 2015, NIKE, Inc. financial statements included the following data:

NIKE, Inc. Selected financial data

Revenues 30,601

Cost of sales 16,534

Gross profit 14,067

Total selling and administrative expense 9,892

Interest expense (net) 28

Other income/expense (net) (58)

Net income 3,273

Use this data to calculate the profit margin ratio.

Reference no: EM132140764

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