FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
This is part a and b please answer both
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 6. 2021 2020 Accounts receivable $ 48,000 $ 45,000 Inventory 36,000 46,000 Net sales 197,000 199,000 еВook Cost of goods sold 122,000 114,000 Total assets 429,000 419,000 Total stockholders' equity 246,000 227,000 Net income 33,500 34,000 TPX Company's 2021 debt to equity ratio is: Multiple Choice 7.90%. 13.62%.
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Transcribed Image Text:Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 6. 2021 2020 Accounts receivable $ 48,000 $ 45,000 Inventory 36,000 46,000 Net sales 197,000 199,000 еВook Cost of goods sold 122,000 114,000 Total assets 429,000 419,000 Total stockholders' equity 246,000 227,000 Net income 33,500 34,000 TPX Company's 2021 debt to equity ratio is: Multiple Choice 7.90%. 13.62%.
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 10 2021 2020 Accounts receivable $ 89,000 $ 82,000 Inventory 89,000 78,000 Net sales 500,000 381,000 eBook Cost of goods sold 264,000 218,000 Total assets 815,000 765,000 Total stockholders' equity 450,000 51,000 500,000 Net income 71,000 TPX Company's 2021 gross profit ratio is: (Round your answer to one decimal place.) Multiple Choice 47.2%. 52.8%.
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Transcribed Image Text:Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 10 2021 2020 Accounts receivable $ 89,000 $ 82,000 Inventory 89,000 78,000 Net sales 500,000 381,000 eBook Cost of goods sold 264,000 218,000 Total assets 815,000 765,000 Total stockholders' equity 450,000 51,000 500,000 Net income 71,000 TPX Company's 2021 gross profit ratio is: (Round your answer to one decimal place.) Multiple Choice 47.2%. 52.8%.
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