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?

Tyler Toys, Inc. Income Statement for Years Ending December 31, 2013 and 2014 2014 2013 Revenue $ 14,147,023 $ 13,566,442 Cost of goods sold $ -8,447,473 $ -8,131,196 Selling, general, and administrative expenses -998,917 $ 980,005 Depreciation $ -1,498,653 $ -1,471,229 EBIT $ 3,201,980 $ 2,984,012 Interest expense $ -376,294 $ -354,452 Taxes $ -1,073,761 $ -999,233 Net income $ 1,751,925 $ 1,630,327| 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. Cash Tyler Toys, Inc. Balance Sheet as of December 31, 2013 and 2014 ASSETS 2014 2013 LIABILITIES 2014 2013 Current assets Current liabilities 191,020 $ 187,540 Accounts payable 1,546,969 $ 1,455,523 Investments 181,529 $ 120,877 Short-term debt 311,737 $ 333,764 Accounts receivable $ 667,215 $ 630,069 Total current liabilities $ 1,858,706 $ 1,789,287 Inventory 587,960 $ 564,247 Long-term liabilities Total current assets $ 1,627,724 $ 1,502,733 Debt 7,286,271 $ 6,603,960 Long-term assets Other liabilities 1,464,000 $ 1,346,137 Investments 3,054,280 $ 2,828,442 Total liabilities $ 10,608,977 $ 9,739,384 Plant, property, and equipment $ 8,497,277 $ 8,481,558 OWNERS' EQUITY Goodwill 348,722 $ 347,860 Common stock $ 1,457,607 $ 1,454,047 Intangible assets $ 1,158,011 $ 956,936 Retained earings $ 2,619,430 $ 2,924,098 Total owners' equity $ 4,077,037 $ 4,378,145 TOTAL LIABILITIES TOTAL ASSETS $ 14,686,014 $ 14,117,529 AND OWNERS' EQUITY $ 14,686,014 $ 14,117,529 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