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?

1

What is the inventory turnover ratio for 2014?

(Round to four decimal places.)

What is the inventory turnover ratio for 2013?

(Round to four decimal places.)

What is the days' sales in inventory ratio for 2014?

days (Round to four decimal places.)

What is the days' sales in inventory ratio for 2013?

days (Round to four decimal places.)

What is the receivables turnover ratio for 2014?

(Round to four decimal places.)

What is the receivables turnover ratio for 2013?

(Round to four decimal places.)

What is the days' sales in receivables ratio for 2014?

days (Round to four decimal places.)

What is the days' sales in receivables ratio for 2013?

days (Round to four decimal places.)

What is the total asset turnover ratio for 2014?

(Round to four decimal places.)

What is the total asset turnover ratio for 2013?

(Round to four decimal places.)

Should any of these ratios or the change in a ratio warrant concern for the managers of Tyler Toys or the shareholders?

(Select the best response.)

A. The company has a very good turnover of assets but collects its receivables slowly; thus there are

some real concerns from these ratios.

B. The company has a very good turnover of assets and collects its receivables quickly; thus there are

major concerns from these ratios.

C. The company has a very poor turnover of assets and collects its receivables quickly; thus there are

some concerns from these ratios.

D. The company has a very good turnover of assets and collects its receivables quickly; thus there are no

real concerns from these ratios.

Data Table Tyler Toys, Inc Income Statement for Years Ending December 31, 2013 and 2014 2014 2013 $14,146,670 $13,566,780 $-8,447,246 $ -8,131,010 $ -998,932$ -981,426 $-1,497,401 $ -1,471,697 $ 3,203,091 $ 2,982,647 $-375,795 $ 354,175 $-1,074,372$ -998,819 $ 1,752,924 $ 1,629,653 Right-click on the table and select Copy to Clipboard and then right-click the Revenue Cost of goods sold Selling, general, and administrative expenses Depreciation EBIT Interest expense axes Net income 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 SSETS 2014 2013 LIABILITIES 2014 2013 urrent assets Current liabilities S 191,372$ 187,606 Accounts payable $ 180,060 1,545,412S 1,456,669 $ 311,230$ 332,867 Investments 120,665 Short-term debt Total current unts receivable667,557 $ 631,423 liabilities $1,856,642$ 1,789,536 Inventory S 588,141S 563,596 Long-term liabilities otal current assets S 1,627,130 $ 1,503,290 Debt Long-term assets Investments Plant, property, and equipment Goodwill Intangible assets $ 7,286,302 $ 6,604,483 $ 1,462,957 $ 1,345,229 $10,605,901 $ 9,739,248 Other liabilities $ 3,054,935 $ 2,828,879 Total liabilities S 8,496,166 $ 8,481,038 OWNERS' EQUITY S 347,233 S 346,653 Common stock $1,157,087$ 957,519 Retained earnings $ 1,457,422 $ 1,453,789 2,619,228$ 2,924,342 4,378,131 Total owners' equity TOTAL LIABILITIES AND OWNERS' 4,076,650 OTAL ASSETS $14,682,551 $14,117,379 EQUITY $14,682,551 $14,117,379 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