Stamford Office Supply Company reported the following selected financial statement data:
|
Cash
|
Dec 31, 2012
$30,000
|
Dec 31, 2013
$32,000
|
|
Accounts receivable (net)
|
48,000
|
52,000
|
|
Inventory
|
68,000
|
72,000
|
|
Plant assets (net)
|
210,000
|
218,000
|
|
Total assets
|
405,000
|
395,000
|
|
Liabilities
|
145,000
|
145,000
|
|
Shareholders' equity
|
260,000
|
250,000
|
|
Net sales
|
340,000
|
400,000
|
|
Cost of goods sold
|
220,000
|
280,000
|
|
Net income
|
20,000
|
25,000
|
Required:
Compute the following for 2013:
- The receivables turnover ratio.
- The inventory turnover ratio.
- The asset turnover ratio.
- The average collection period.
- The average days in inventory.
- The profit margin on sales.
- The return on assets.