question archive TravelLite and FareLine compete as online travel agencies
Subject:AccountingPrice: Bought3
TravelLite and FareLine compete as online travel agencies. Historically, TravelLite has focused more on flights whereas FareLine has focused on hotel bookings. The following amounts were reported by the two companies in 2012.(in millions)Net IncomeTotal AssetsTotal LiabilitiesTotal Revenues TravelLite$ 1,180$9,250$6,600$6,730 FareLine 3,220 8,730 4,470 7,960 1.Calculate each company’s net profit margin expressed as a percent.(Round your answers to the nearest whole percent.)