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A. Cost of goods sold is 48.57% of net sales for 2017 B. Net Sales increased $80 000 or 33.63% during 2017 C. Accounts receivable is 14.89% of total assets for 2016 D. Gross profit is 57.90% of net sales for 2017

A. Cost of goods sold is 48.57% of net sales for 2017 B. Net Sales increased $80 000 or 33.63% during 2017 C. Accounts receivable is 14.89% of total assets for 2016 D. Gross profit is 57.90% of net sales for 2017

Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter1: The Role Of Accounting In Business
Section: Chapter Questions
Problem 1.4.1MBA: Return on assets The following data (in millions) were adapted from recent financial statements of...
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A. Cost of goods sold is 48.57% of net sales for 2017
B. Net Sales increased $80 000 or 33.63% during 2017
C. Accounts receivable is 14.89% of total assets for 2016
D. Gross profit is 57.90% of net sales for 2017
Selected data from the financial statements of Crossette Garden Centre is provided below. 2017 2016 Accounts receivable $70 000 $46 000 Inventory 10 000 17 000 Total assets 470 000 360 000 Net sales 350 000 270 000 Cost of goods sold 170 000 220 000 Which of the following would result from an analysis of the company's financial data?
Transcribed Image Text:Selected data from the financial statements of Crossette Garden Centre is provided below. 2017 2016 Accounts receivable $70 000 $46 000 Inventory 10 000 17 000 Total assets 470 000 360 000 Net sales 350 000 270 000 Cost of goods sold 170 000 220 000 Which of the following would result from an analysis of the company's financial data?
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