FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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A. Cost of goods sold is 48.57% of net sales for 2017
B. Net Sales increased $80 000 or 33.63% during 2017
C. Accounts receivable is 14.89% of total assets for 2016
D. Gross profit is 57.90% of net sales for 2017
Selected data from the financial statements of Crossette Garden Centre is
provided below.
2017
2016
Accounts receivable
$70 000
$46 000
Inventory
10 000
17 000
Total assets
470 000
360 000
Net sales
350 000
270 000
Cost of goods sold
170 000
220 000
Which of the following would result from an analysis of the company's financial
data?
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Transcribed Image Text:Selected data from the financial statements of Crossette Garden Centre is provided below. 2017 2016 Accounts receivable $70 000 $46 000 Inventory 10 000 17 000 Total assets 470 000 360 000 Net sales 350 000 270 000 Cost of goods sold 170 000 220 000 Which of the following would result from an analysis of the company's financial data?
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