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c14 q7 need help with 11 steps Financial ratios: Asset management.The financial statements for Tyler Toys, Inc. are shown in the popup window:Calculate the inventory

c14 q7 need help with 11 steps

Financial ratios: Asset management.The financial statements for Tyler Toys, Inc. are shown in the popup window:Calculate the inventory turnover, days' sales in inventory, receivables turnover, days' sales in receivables, and total asset turnover for 2013 and 2014 for Tyler Toys. Should any of these ratios or the change in a ratio warrant concern for the managers of Tyler Toys or the shareholders?

Tyler Toys, Inc.

Income Statement for Years Ending December 31, 2013 and 2014

2014

2013

Revenue

$14,146,953

$13,567,823

Cost of goods sold

$-8,447,169

$-8,132,896

Selling, general, and administrative expenses

$-998,833

$-981,767

Depreciation

$-1,497,011

$-1,472,038

EBIT

$3,203,940

$2,981,122

Interest expense

$-376,791

$-355,996

Taxes

$-1,074,317

$-997,548

Net income

$1,752,832

$1,627,578

Right-click on the table and select Copy to Clipboard and then

right-click the

highlighted texts in the popup dialogue box and select Copy in order to paste its

contents into a

spreadsheet.

Tyler Toys, Inc.

Balance Sheet as of December 31, 2013 and 2014

ASSETS

2014

2013

LIABILITIES

2014

2013

Current assets

Current liabilities

Cash

$191,326

$186,821

Accounts payable

$1,546,080

$1,456,395

Investments

$180,746

$121,604

Short-term debt

$312,454

$332,051

Accounts receivable

$668,411

$630,246

Total current liabilities

$1,858,534

$1,788,446

Inventory

$587,091

$563,950

Long-term liabilities

Total current assets

$1,627,574

$1,502,621

Debt

$7,286,929

$6,603,263

Long-term assets

Other liabilities

$1,462,371

$1,346,116

Investments

$3,054,289

$2,828,198

Total liabilities

$10,607,834

$9,737,825

Plant, property, and equipment

$8,496,372

$8,480,605

OWNERS EQUITY

Goodwill

$348,783

$347,235

Common stock

$1,458,979

$1,454,188

Intangible assets

$1,157,637

$957,114

Retained earnings

$2,617,842

$2,923,760

Total owners equity

$4,076,821

$4,377,948

TOTAL LIABILITIES

TOTAL ASSETS

$14,684,655

$14,115,773

AND OWNERS EQUITY

$14,684,655

$14,115,773

Right-click on the table and select Copy to Clipboard and then right-click the highlighted texts in the popup dialogue box and select

What is the inventory turnover ratio for 2014?

enter your response here

(Round to four decimal places.)

in order to paste its contents into aspreadsheet.

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