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Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 89,000 $ 80,000 Inventory 92,000 72,000
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:
| 2021 | 2020 | ||||
| Accounts receivable | $ | 89,000 | $ | 80,000 | |
| Inventory | 92,000 | 72,000 | |||
| Net sales | 480,000 | 381,000 | |||
| Cost of goods sold | 259,000 | 218,000 | |||
| Total assets | 800,000 | 790,000 | |||
| Total stockholders' equity | 480,000 | 430,000 | |||
| Net income | 77,000 | 59,000 | |||
TPX Company's 2021 return on equity is:
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