The financial statements for Tyler Toys, Inc. are shown in the popup window: LOADING....Calculate the profit margin, return on assets, and return on equity for 2013 and 2014 for Tyler Toys. Should any of these ratios or the change in a ratio warrant concern for the managers of Tyler Toys or the shareholders? Tyler Toys, Inc.Income Statement for Years Ending December 31, 2013 and 2014 20142013Revenue$14,146,094$13,567,551Cost of goods sold$-8,448,688$-8,131,338Selling, general, and administrative expenses$-998,878$-980,620Depreciation$-1,497,580$-1,472,740EBIT$3,200,948$2,982,853Interest expense$-376,634$-354,060Taxes$-1,073,239$-998,941Net income$1,751,075$1,629,852Right-click on the table and select Copy to Clipboard and then right-click the highlighted texts in the popup dialogue box and select Copy in order to paste its contents into aspreadsheet. Tyler Toys, Inc.Balance Sheet as of December 31, 2013 and 2014ASSETS20142013LIABILITIES20142013Current assets Current liabilities Cash$191,605$187,785Accounts payable$1,545,862$1,455,460Investments$180,795$120,972Short-term debt$312,791$332,179Accounts receivable$668,082$631,662Total current liabilities$1,858,653$1,787,639Inventory$587,794$564,582Long-term liabilities Total current assets$1,628,276$1,505,001Debt$7,286,515$6,603,728Long-term assets Other liabilities$1,463,972$1,346,841Investments$3,054,319$2,828,614Total liabilities$10,609,140$9,738,208Plant, property, and equipment$8,497,564$8,481,642OWNERS’ EQUITY Goodwill$347,418$347,058Common stock$1,458,440$1,454,401Intangible assets$1,158,010$957,723Retained earnings$2,618,007$2,927,429 Total owners’ equity$4,076,447$4,381,830 TOTAL LIABILITIES TOTAL ASSETS$14,685,587$14,120,038AND OWNERS’ EQUITY$14,685,587$14,120,038 Right-click on the table and select Copy to Clipboard and then right-click the highlighted texts in the popup dialogue box and select Copyin order to paste its contents into aspreadsheet.

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Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.4P

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The financial statements for Tyler Toys, Inc. are shown in the popup window:

Calculate the profit margin, return on assets, and return on equity for 2013 and 2014 for Tyler Toys. Should any of these ratios or the change in a ratio warrant concern for the managers of Tyler Toys or the shareholders?

Tyler Toys, Inc.
Income Statement for Years Ending December 31, 2013 and 2014
	2014	2013
Revenue	$14,146,094	$13,567,551
Cost of goods sold	$-8,448,688	$-8,131,338
Selling, general, and administrative expenses	$-998,878	$-980,620
Depreciation	$-1,497,580	$-1,472,740
EBIT	$3,200,948	$2,982,853
Interest expense	$-376,634	$-354,060
Taxes	$-1,073,239	$-998,941
Net income	$1,751,075	$1,629,852

Right-click on the table and select Copy to Clipboard and then right-click the

highlighted texts in the popup dialogue box and select Copy in order to paste its

contents into a

spreadsheet.

Tyler Toys, Inc.
Balance Sheet as of December 31, 2013 and 2014
ASSETS	2014	2013	LIABILITIES	2014	2013
Current assets			Current liabilities
Cash	$191,605	$187,785	Accounts payable	$1,545,862	$1,455,460
Investments	$180,795	$120,972	Short-term debt	$312,791	$332,179
Accounts receivable	$668,082	$631,662	Total current liabilities	$1,858,653	$1,787,639
Inventory	$587,794	$564,582	Long-term liabilities
Total current assets	$1,628,276	$1,505,001	Debt	$7,286,515	$6,603,728
Long-term assets			Other liabilities	$1,463,972	$1,346,841
Investments	$3,054,319	$2,828,614	Total liabilities	$10,609,140	$9,738,208
Plant, property, and equipment	$8,497,564	$8,481,642	OWNERS’ EQUITY
Goodwill	$347,418	$347,058	Common stock	$1,458,440	$1,454,401
Intangible assets	$1,158,010	$957,723	Retained earnings	$2,618,007	$2,927,429
			Total owners’ equity	$4,076,447	$4,381,830
			TOTAL LIABILITIES
TOTAL ASSETS	$14,685,587	$14,120,038	AND OWNERS’ EQUITY	$14,685,587	$14,120,038