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Excerpts from TPX Company's December 31, 2018 and 2017, financial statements are presented below: 2018 To Accounts receivable $80 000 872000 Inventory 84000 70.000 Net

Excerpts from TPX Company's December 31, 2018 and 2017, financial statements are presented below:

2018 To Accounts receivable $80 000 872000 Inventory 84000 70.000 Net sales 400.000 372000 Cost of goods sold 254000 216000 Total assets 850.000 810 000 Total stockholders equity 500 000 450 000 Net income 75.000 56000

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