3-96 All of the following statements regarding profit margin are true except:
A.
Profit margin is not a useful measure of a company's operating results.
B.
Profit margin is also called return on sales.
C.
Profit margin can be used to compare a firm's performance to its competitors.
D.
Profit margin reflects the percent of profit in each dollar of revenue.
E.
Profit margin is calculated by dividing net income by net sales.