A company has total assets of $8,500,000 and its total turnover of 2.35 times. If the return on assets is 9 percent, what is its profit margin? Please help with a formula?

To calculate the profit margin, we need to first determine the net profit.

Net Profit = Return on Assets * Total Assets

In this case, the Return on Assets is given as 9 percent, which can be written as 0.09 in decimal form. The Total Assets are given as $8,500,000.

Net Profit = 0.09 * $8,500,000
Net Profit = $765,000

Next, we can calculate the profit margin:

Profit Margin = (Net Profit / Total Turnover) * 100

The Total Turnover is given as 2.35 times.

Profit Margin = ($765,000 / 2.35) * 100
Profit Margin ≈ 326.38%

Therefore, the profit margin is approximately 326.38%.