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Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 $ 87,000 $ 82,000 72,000 Accounts receivable Inventory 91,000 Net sales 410,000 373,000 Cost of goods sold 265,000 225,000 Total assets 760,000 445,000 830,000 Total stockholders' equity 480,000

Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 $ 87,000 $ 82,000 72,000 Accounts receivable Inventory 91,000 Net sales 410,000 373,000 Cost of goods sold 265,000 225,000 Total assets 760,000 445,000 830,000 Total stockholders' equity 480,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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This is part a and b please answer both
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 87,000 $ 82,000 Inventory 91,000 72,000 Net sales 410, 000 373,000 Cost of goods sold 265,000 225,000 Total assets 830,000 760,000 Total stockholders' equity 480,000 445,000 Net income 75,000 51,000 TPX Company's 2021 return on equity is: (Round your answer to 1 decimal place.) Multiple Choice 16.2%. 1.5%.
Transcribed Image Text:Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 87,000 $ 82,000 Inventory 91,000 72,000 Net sales 410, 000 373,000 Cost of goods sold 265,000 225,000 Total assets 830,000 760,000 Total stockholders' equity 480,000 445,000 Net income 75,000 51,000 TPX Company's 2021 return on equity is: (Round your answer to 1 decimal place.) Multiple Choice 16.2%. 1.5%.
Given the information below, what is the company's gross profit? $370,000 $ 57,000 $102,000 $250,000 $ 26,000 Sales Revenue Accounts Receivable Ending Inventory Cost of Goods Sold Sales Returns Multiple Choice $281,000. $120,000. $97,000.
Transcribed Image Text:Given the information below, what is the company's gross profit? $370,000 $ 57,000 $102,000 $250,000 $ 26,000 Sales Revenue Accounts Receivable Ending Inventory Cost of Goods Sold Sales Returns Multiple Choice $281,000. $120,000. $97,000.
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