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ACCT 212 DeVry University Ronaldo Soccer Shops Income Statement Worksheet

ACCT 212 DeVry University Ronaldo Soccer Shops Income Statement Worksheet

Please answer all the attachment questions, there should be 19 in total.

Ronaldo Soccer Shop’s income statement reports sales of $100,000; cost of goods sold of $46,000, operating expenses of $34,000, interest expense of $15,000, income tax expense of $2,000, and net income of $3,000. If you were to perform a vertical analysis of this income statement, you would divide each of these income statement line items by:

Multiple Choice
  • Excerpts from TPX Company’s December 31, 2021 and 2020, financial statements are presented below:
  • 2021 2020
    Accounts receivable $ 82,000 $ 80,000
    Inventory 91,000 79,000
    Net sales 420,000 375,000
    Cost of goods sold 257,000 218,000
    Total assets 810,000 780,000
    Total stockholders’ equity 475,000 430,000
    Net income 71,000 60,000

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

    Multiple Choice

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