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Excerpts from TPX Company's December 31, 2018 and 2017, financial statements are presented below: 2018 2017 Accounts receivable $83,000 $80,000 Inventory 89,000 74,000 Net sales
Excerpts from TPX Company's December 31, 2018 and 2017, financial statements are presented below:
| 2018 | 2017 | |
| Accounts receivable | $83,000 | $80,000 |
| Inventory | 89,000 | 74,000 |
| Net sales | 430,000 | 384,000 |
| Cost of goods sold | 264,000 | 224,000 |
| Total assets | 805,000 | 790,000 |
| Total stockholders' equity | 515,000 | 420,000 |
| Net income | 71,000 | 59,000 |
TPX Company's 2018 return on equity is:
13.8%.
15.2%.
3.2%.
1.6%.
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Managerial Accounting Information For Decisions
Authors: Thomas L. Albright , Robert W. Ingram, John S. Hill
4th Edition
0324222432, 978-0324222432
