Calculate the receivables turnover ratio

Question

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:

1. The receivables turnover ratio.
2. The inventory turnover ratio.
3. The asset turnover ratio.
4. The average collection period.
5. The average days in inventory.
6. The profit margin on sales.
7. The return on assets.