Bloom's Garden Center Company

question 22

Multiple Choice

Bloom's Garden Center Company
Selected data from the financial statements of Bloom's Garden Center Company are provided below.

- Refer to the selected data provided for Bloom's Garden Center Company. Which of the following would result from a vertical analysis of Bloom's income statement?

• A) The accounts receivable turnover ratio is 7.56 in 2012.
• B) Gross profit is 46.67% of net sales for 2012.
• C) Cost of goods sold decreased by $50,000 or 17.24% during 2012.
• D) Net sales is 84.91% of total assets for 2012.

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Definitions:

Paradigm

A distinct set of concepts or thought patterns, including theories, research methods, postulates, and standards for what constitutes legitimate contributions to a field.

Inevitability

The quality of being certain to happen; an unavoidable event or outcome.

Extended Contact

A theory that suggests indirect contact with an outgroup member through a third party can reduce prejudice and improve intergroup relations.

Virtual Contact

Virtual contact refers to interactions between individuals or groups that occur through digital platforms or technologies, without physical presence, facilitating communication across distances.