access, place your bookmarks here on the bookmarks bar, Import bookmarks now Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Liabilities Current Assets 121,300 Accounts payable 81.800 Bonds payable (long term Accounts receivable 54,500 Inventory Long-Term Assets Stockholders' Equity 519,000 Common stock Gross fixed assets Paid-in capital Less: Accumulated depreciation 151.200 367.800 Retained earnings Net fixed assets 625,400 Total liabilities and equity Total assets 1.252.000 Sales (on credit) 758,000 Cost of goods sold 494,000 Gross profit 311,000 Selling and administrative expenset 51.900 Depreciation expense 131 100 Operating profit 8.200 Interest expense Earnings before taxes 12 100 600 Tax expense 22.300 Net income "Use net fixed assets in computing fixed asset turnover tIncludes $13,500 in lease payments SMITH CORPORATION Liabilities Current Assets 500 Accounts payable Type here to search 122,000 82,400 150.000 70,000 201,000 625,400