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