50 POINTS!!!
Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:
2021 2020
Accounts receivable $ 83,000 $ 75,000
Inventory 95,000 72,000
Net sales 480,000 377,000
Cost of goods sold 257,000 223,000
Total assets 825,000 750,000
Total stockholders' equity 480,000 455,000
Net income 80,000 51,000
TPX Company's 2021 return on equity is: (Round your answer to 1 decimal place.)
Multiple Choice
1.4%.
3.1%.
17.1%.
16.7%.
