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Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below: ...

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Accounting

Excerpts from TPX Company's December 31, 2021 and 2020, financial statements are presented below:

2021 2020
Accounts receivable $ 84,000 $ 77,000
Inventory 86,000 78,000
Net sales 460,000 374,000
Cost of goods sold 256,000 219,000
Total assets 825,000 760,000
Total stockholders' equity 470,000 445,000
Net income 72,000 58,000

TPX Company's 2021 return on equity is: (Round your answer to 1 decimal place.)

Multiple Choice

  • 15.7%.

  • 3.1%.

  • 15.3%.

  • 1.4%.

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