Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 89,000 $ 80,000 Inventory 88,000 77,000 Net sales 450,000 384,000 Cost of goods sold 256,000 226,000 Total assets 825,000 785,000 Total stockholders' equity 490,000 420,000 Net income 70,000 60,000 TPX Company's 2021 return on equity is: (Round your answer to 1 decimal place.) Multiple Choice 15.4%. 14.3%. 1.5%. 3.1%.
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 89,000 $ 80,000 Inventory 88,000 77,000 Net sales 450,000 384,000 Cost of goods sold 256,000 226,000 Total assets 825,000 785,000 Total stockholders' equity 490,000 420,000 Net income 70,000 60,000 TPX Company's 2021 return on equity is: (Round your answer to 1 decimal place.) Multiple Choice 15.4%. 14.3%. 1.5%. 3.1%.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:
| 2021 | 2020 | ||||
| $ | 89,000 | $ | 80,000 | ||
| Inventory | 88,000 | 77,000 | |||
| Net sales | 450,000 | 384,000 | |||
| Cost of goods sold | 256,000 | 226,000 | |||
| Total assets | 825,000 | 785,000 | |||
| Total |
490,000 | 420,000 | |||
| Net income | 70,000 | 60,000 | |||
TPX Company's 2021 return on equity is: (Round your answer to 1 decimal place.)
Multiple Choice
-
15.4%.
-
14.3%.
-
1.5%.
-
3.1%.
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