Problem:
The Rose Company has net income of $155,850. There are currently 27.85 days' sales in receivables. Total assets are $844,000, total receivables are $146,900, and the debt-equity ratio is .45.
Required:
Question 1: What is the company's profit margin?
Question 2: What is the company's total asset turnover?
Note: Please provide reasons to support your answer.