Financial ratios: Asset management. The financial statements for Tyler Toys, Inc. are shown in the popup window: E. 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 $ 14,146,069 $ 13,566,202 Cost of goods sold $ -8,447,665 $ -8,131,356 Selling, general, and administrative expenses $ -997,9101$ -981,402 Depreciation $ -1,497,497 $ -1,471,955 EBIT $ 3,202,997 $ 2,981,489 Interest expense $ -376,289 $ -355,384 Taxes $ -1,074,149 $ -997,920 Net income $ 1,752,559 $ 1,628,185 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 2014 2013 LIABILITIES ASSETS 2014 2013 Current assets Current liabilities Cash 190,031$ 187,963 Accounts payable $ 1,546,089 $ 1,456,381 333,104 Investments $ 181,123 $ 121,372 Short-term debt $ 312,299 $ Accounts receivable $ 667,795 $ 630,956 Total current liabilities $ 1,858,388 $ 1,789,485 Inventory $ 587,776 $ 564,196 Long-term liabilities Financial ratios: Asset management. The financial statements for Tyler Toys, Inc. are shown in the popup window: E. 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 $ 14,146,069 $ 13,566,202 Cost of goods sold $ -8,447,665 $ -8,131,356 Selling, general, and administrative expenses $ -997,9101$ -981,402 Depreciation $ -1,497,497 $ -1,471,955 EBIT $ 3,202,997 $ 2,981,489 Interest expense $ -376,289 $ -355,384 Taxes $ -1,074,149 $ -997,920 Net income $ 1,752,559 $ 1,628,185 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 2014 2013 LIABILITIES ASSETS 2014 2013 Current assets Current liabilities Cash 190,031$ 187,963 Accounts payable $ 1,546,089 $ 1,456,381 333,104 Investments $ 181,123 $ 121,372 Short-term debt $ 312,299 $ Accounts receivable $ 667,795 $ 630,956 Total current liabilities $ 1,858,388 $ 1,789,485 Inventory $ 587,776 $ 564,196 Long-term liabilities
