Answered step by step
Verified Expert Solution
Link Copied!
Question
1 Approved Answer

Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Excerpts from Stealth Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity Net income 2021 $ 42,000 33,000 191,000 118,000 436,000 248,000 34,000 2020 $ 39,000 37,000 192,000 111,000 418,000 228,000 31,000 Stealth Company's 2021 debt to equity ratio is: (Round your answer to 1 decimal place.) Multiple Choice Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable Inventory Net sales (all credit) Cost of goods sold Total assets Total stockholders' equity Net income 2021 $ 82,000 86,000 480,000 255,000 830,000 480,000 78,000 2020 $ 71,000 75,000 374,000 222,000 765,000 450,000 51,000 TPX Company's 2021 receivables turnover ratio is: (Round your answer to 1 decimal place.) Multiple Choice oooo 6.3 times. Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable Inventory Net sales (all credit) Cost of goods sold Total assets Total stockholders' equity Net income 2021 $ 86,000 92,000 500,000 255,000 825,000 505,000 73,000 2020 $ 73,000 75,000 376,000 218,000 775,000 455,000 50,000 TPX Company's 2021 inventory turnover is: (Round your answer to 1 decimal place.) Multiple Choice C ) 5.4 times. O 3.1 times. C ) 2.8 times C ) 6.0 times. Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity Net income 2021 $ 41,000 35,000 197,000 117,000 434,000 247,000 35,000 2020 $ 42,000 45,000 195,000 110,000 419,000 235,000 29,000 TPX Company's 2021 debt to equity ratio is: Multiple Choice o O 8.21%. o 14.17% o O 75.71%. o 30.84% Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: Accounts receivable Inventory Net sales Cost of goods sold Total assets Total stockholders' equity Net income 2021 $ 84,000 89,000 470,000 261,000 830,000 495,000 78,000 2020 $80,000 76,000 381,000 222,000 755,000 425,000 51,000 TPX Company's 2021 gross profit ratio is: (Round your answer to one decimal place.) Multiple Choice 44.5% 49.5% 55.5%. 53.5%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image
Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing A Practical Approach

Authors: Robyn Moroney, Fiona Campbell, Jane Hamilton, Valerie Warren

1st Extended Canadian Edition

1118878418, 9781118878415

More Books

Students explore these related Accounting questions