c14 q7 part 1-11

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? What is the inventory turnover ratio for 2014? (Round to four decimal places.) Tyler Toys, Inc. Income Statement for Years Ending December 31, 2013 and 2014 \begin{tabular}{|l|lr|lr|} \hline & \multicolumn{2}{|c|}{2014} & \multicolumn{1}{|c|}{2013} \\ \hline Revenue & $ & 14,147,308 & $ & 13,567,059 \\ Cost of goods sold & $ & 8,448,880 & $ & 8,132,842 \\ Selling, general, and \\ administrative expenses & $ & 998,445 & $ & 981,677 \\ Depreciation & $ & 1,498,377 & $ & 1,471,376 \\ \hline EBIT & $ & 3,201,606 & $ & 2,981,164 \\ Interest expense & $ & 376,386 & $ & 355,740 \\ Taxes & $ & 1,073,584 & $ & 997,661 \\ \hline Net income & $ & 1,751,636 & $ & 1,627,763 \\ \hline \end{tabular} Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 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