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Use the following information to answer the next ten questions:
Excerpts from TPX Company's December 31, 2015 and 2014, financial statements are presented below:
|
|
2015 |
2014 |
|
Accounts receivable |
$ 80,000 |
$ 72,000 |
|
Inventory |
84,000 |
70,000 |
|
Net sales |
400,000 |
372,000 |
|
Cost of goods sold |
254,000 |
216,000 |
|
Total assets |
850,000 |
810,000 |
|
Total stockholders’ equity |
500,000 |
450,000 |
|
Net income |
75,000 |
56,000 |
91. TPX Company’s 2015 receivables turnover ratio is:
a.5.3 times.
b.5.6 times.
c.5.0 times.
d.0.2 times.
92. TPX Company’s 2015 average collection period is:
a.69 days.
b.65 days.
c.73 days.
d.1,825 days.
93. TPX Company’s 2015 inventory turnover is:
a.3.0 times.
b.5.2 times.
c.3.3 times.
d.3.6 times.
94. TPX Company’s 2015 average days in inventory is:
a.121.7 days.
b.70.2 days.
c.110.6 days.
d.101.4 days.
95. TPX Company’s 2015 debt to equity ratio is:
a.50.0%.
b.60.0%.
c.70.0%.
d.80.0%.
96. TPX Company’s 2015 gross profit ratio is:
a.57.5%.
b.36.5%.
c.63.5%.
d.60.0%.
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