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%.
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
Section: Chapter Questions
Problem 1PS
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Question
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 |
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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