Excerpts from Stealth Company's December 31, 2018 and 2017, financial statements are presented below: ...
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Accounting
Excerpts from Stealth Company's December 31, 2018 and 2017, financial statements are presented below:
| 2018 | 2017 | |
| Accounts receivable | $40,000 | $36,000 |
| Inventory | 28,000 | 35,000 |
| Net sales | 190,000 | 186,000 |
| Cost of goods sold | 114,000 | 108,000 |
| Total assets | 425,000 | 405,000 |
| Total stockholders equity | 240,000 | 225,000 |
| Net income | 32,500 | 28,000 |
Stealth Company's 2018 return on assets is (rounded to one decimal place):
7.1%.
7.8%.
13.5%.
44.7%.
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