Reference no: EM132623966
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:
2021 2020
Accounts receivable $83,000 $77,000
Inventory 90,000 77,000
Net sales 410,000 378,000
Cost of goods sold 265,000 224,000
Total assets 830,000 775,000
Total stockholders' equity 500,000 450,000
Net income 77,000 56,000
Problem 1: TPX Company's 2021 return on equity is: (Round your answer to 1 decimal place.)
A) 3.2%.
B) 16.2%.
C) 1.5%.
D) 15.4%.
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