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Use the following information to answer the next ten questions

 

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%.

Jan 27 2020 View more View Less

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