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Selected Balances from a Company's Financial Statements Are Shown Below

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Selected balances from a company's financial statements are shown below:
 Dec. 31, 2013 Dec. 31, 2014 For the  Year 2014  Merchandise inventory $15,000$20,000 Accounts payable 32,00026,000 Salaries payable 4,4003,000 Accounts receivable 24,00021,000 Total assets 234,000286,000 Sales (all on credit) $312,000 Cost of goods sold 165,600 Salaries expense 48,000 Other expenses 75,000 Net income 24,000\begin{array}{|l|c|c|c|} \hline& \begin{array}{c}\text { Dec. 31, } \\2013\end{array} & \begin{array}{c}\text { Dec. 31, } \\2014\end{array} & \begin{array}{c}\text { For the } \\\text { Year 2014 }\end{array} \\\hline \text { Merchandise inventory } & \$ 15,000 & \$ 20,000 & \\\hline \text { Accounts payable } & 32,000 & 26,000 \\\hline \text { Salaries payable } & 4,400 & 3,000 \\\hline \text { Accounts receivable } & 24,000 & 21,000 \\\hline \text { Total assets } & 234,000 & 286,000 \\\hline \text { Sales (all on credit) } & & & \$ 312,000 \\\hline \text { Cost of goods sold } & & & 165,600 \\\hline \text { Salaries expense } & & & 48,000 \\\hline \text { Other expenses } & & & 75,000 \\\hline \text { Net income } & & & 24,000\\\hline\end{array} Use the information above to calculate the following current year ratios:
(a) 2014 inventory turnover.
(b) Days' sales uncollected at Dec. 31, 2014.
(c) 2014 profit margin.
(d) 2011 return on total assets.


Definitions:

Opportunity Costs

The cost of what is foregone by choosing one alternative over another, representing the benefits that could have been received from the next best alternative.

Bargaining Position

The relative power or leverage that a party has during negotiations to influence the terms in their favor.

Supplier Merges

The act of two or more suppliers combining their operations, often to increase efficiency or market power.

Product Redesign

The process of updating or changing the features, appearance, or specifications of a product to improve its performance, appeal, or production efficiency.

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