Part B (20 points)Selected data of the Peninsula Company follow:As of December 31Balance Sheet Data 2014 2013Accounts receivable $671,000 $642,000Allowance for doubtful accounts 31,000 22,000Net accounts receivable $640,000 $620,000Inventoriesâ€”lower of cost or market $542,500 $642,500Year Ended December 31Income Statement Data 2014 2013Net credit sales $3,150,000 $3,000,000Net cash sales 800,000 600,000Net sales $3,950,000 $3,600,000Cost of goods sold $2,370,000 $2,160,000Selling, general, and administrative expenses 475,000 350,000Other 150,000 125,000Total operating expenses $2,995,000 $2,635,000Net income $955,000 $965,000a. What is the accounts receivable turnover for 2014?b. What is the inventory turnover for 2014?Part C (40 points)Selected information taken from the 2014 annual report of Aardvark Company follows. During 2014, the company had no nonoperating or nonrecurring items included in income and had no outstanding preferred stock.($ in millions) 2014 2013Sales $19,903 $18,781Interest expense 130 169Net income 1,153 1,088Total assets 12,673 12,461Dividends (153) (131)Total stockholdersâ€™ equity $4,288 $4,007Assumed tax rate 35% 35%Industry ROA 7.32% Industry operating profit margin 6.1% For 2014, calculate:a. ROAb. ROCEc. Operating profit margind. Asset turnover.