Excerpts from TPX Company's December 31,2018 and 2017,financial Statements Are

question 61

Multiple Choice

Excerpts from TPX Company's December 31,2018 and 2017,financial statements are presented below: TPX Company's 2018 gross profit ratio is:
$$\begin{array} { | l | r | r | } \hline & \mathbf { 2 0 1 8 } & \mathbf { 2 0 1 7 } \\\hline \text { Accounts receivable } & \$ 80,000 & \$ 72,000 \\\hline \text { Inventory } & 84,000 & 70,000 \\\hline \text { Net sales } & 400,000 & 372,000 \\\hline \text { Cost of goods sold } & 254,000 & 216,000 \\\hline \text { Total assets } & 850,000 & 810,000 \\\hline \text { Total stockholders' equity } & 500,000 & 450,000 \\\hline \text { Net income } & 75,000 & 56,000 \\\hline\end{array}$$

• A)57.5%.
• B)36.5%.
• C)63.5%.

---

Definitions:

Likelihood

Likelihood in statistical analysis is the probability that a particular set of observations would occur given a specific model.

Wilcoxon Rank Test

A nonparametric statistical test that compares two paired groups to determine if their population mean ranks differ.

McNemar Test

A statistical analysis applied to matched nominal data to assess if the frequencies at the margins of rows and columns are the same.

Nonparametric Tests

Statistical tests that do not assume a specific distribution for the data, often used when data do not meet the assumptions required for parametric tests.