1. Selected balances from a company's financial statements are shown below. Calculate the following ratios for Year 2. (a) accounts receivable turnover (b) inventory turnover (c) days' sales uncollected (d) days' sales in inventory (e) profit margin. (f) return on total assets.

	December 31, Year 2	December 31, Year 1	For Year 2
Accounts receivable	$ 27,000	$ 24,000
Merchandise inventory	25,000	20,000
Total assets	296,000	244,000
Accounts payable	26,000	32,000
Salaries payable	3,000	4,400
Sales (all on credit)			$ 312,000
Cost of goods sold			165,600
Salaries expense			48,000
Other expenses			75,000
Net income			24,000