Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:     2021 2020 Accounts receivable $82,000 $81,000 Inventory 90,000 73,000 Net sales 420,000 375,000 Cost of goods sold 260,000 221,000 Total assets 825,000 760,000 Total stockholders' equity 490,000 450,000 Net income 78,000 58,000 TPX Company's 2021 gross profit ratio is: (Round your answer to one decimal place.)   Multiple Choice   61.9%.   43.1%.   47.1%.   38.1%.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:
 

  2021 2020
Accounts receivable $82,000 $81,000
Inventory 90,000 73,000
Net sales 420,000 375,000
Cost of goods sold 260,000 221,000
Total assets 825,000 760,000
Total stockholders' equity 490,000 450,000
Net income 78,000 58,000


TPX Company's 2021 gross profit ratio is: (Round your answer to one decimal place.)

 

Multiple Choice
  •  

    61.9%.

  •  

    43.1%.

  •  

    47.1%.

  •  

    38.1%.

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