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Excerpts from Hulkster Company's December 31, 2018 and 2017, financial statements are presented below: 2018 2017 Accounts receivable $ 56,000 $ 44,000 Merchandise inventory 36,000
Excerpts from Hulkster Company's December 31, 2018 and 2017, financial statements are presented below:
2018 | 2017 | ||||||
Accounts receivable | $ | 56,000 | $ | 44,000 | |||
Merchandise inventory | 36,000 | 51,000 | |||||
Net sales | 240,000 | 230,000 | |||||
Cost of goods sold | 130,000 | 116,000 | |||||
Total assets | 441,000 | 413,000 | |||||
Total shareholders' equity | 256,000 | 233,000 | |||||
Net income | 44,500 | 36,000 | |||||
Hulkster's 2018 return on assets is (rounded):
Multiple Choice
54.4%.
10.4%.
17.4%.
17.4%.
9.2%.
54.4%.
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