Calculate Jimenez's 2020 forecasted ratios, compare them with the industry average data, and comment briefly on Jimenez's projected strengths and weaknesses Assume that there are no changes from the prior period to any of the operating balance sheet accounts Do not round intermediate calculation Round your answers to two decimal places I got the follow answers wrong and can't figure out for the life of me where I went wrong Comprehensive Ratio Analysis The Jimenez Corporation's forecasted 2020 financial statements follow, along with some industry average ratios Jimenez Corporation Forecasted Balance Sheet as of December 31, 2020 Assets Cash $ 72,000 Accounts receivable 439,000 Inventories 894,000 Total current assets $1,405,000 Fixed assets 431,000 Total assets $1,836,000 Liabilities and Equity Accounts payable $ 332,000 Notes payable 104,000 Accruals 166,000 Total current liabilities $ 602,000 Long term debt 403,840 Common stock 575,450 Retained earnings 254,710 Total liabilities and equity $1,836,000 Jimenez Corporation Forecasted Income Statement for 2020 Sales $4,290,000 Cost of goods sold 3,685,000 Selling, general, and administrative expenses 415,456 Earnings before interest and taxes (EBIT) $ 189,544 Interest expense 40,000 Earnings before taxes (EBT) $ 149,544 Taxes (25 ) 37,386 Net income $ 112,158 Jimenez Corporation Per Share Data for 2020 EPS $ 4 88 Cash dividends per share $ 0 95 P E ratio 5 0 Market price (average) $24 38 Number of shares outstanding 23,000 Industry Ratios a Quick ratio 1 0 Current ratio 2 7 Inventory turnover b 7 0 Days sales outstanding c 32 0 days Fixed assets turnover b 13 0 Total assets turnover b 2 6 Return on assets 9 1 Return on equity 18 2 Profit margin on sales 3 5 Debt to assets ratio 21 0 Liabilities to assets ratio 50 0 P E ratio 6 0 Market Book ratio 3 5 Notes a Industry average ratios have been stable for the past 4 years b Based on year end balance sheet figures c Calculation is based on a 365 day year Ratios Firm Industry Comment Quick ratio 1 0 84 Weak Current ratio 2 7 1 57 Weak Inventory turnover 7 0 4 11 Poor Days sales outstanding 32 days 37 35 days Poor Fixed assets turnover 13 0 9 95 Poor Total assets turnover 2 6 2 34 Poor Return on assets 9 1 6 19 Bad X X Return on equity 18 2 13 69 Bad Profit margin on sales 3 5 2 65 Bad Debt to assets ratio 21 0 22 High Liabilities to assets ratio 50 0 54 79 High P E ratio 6 0 5 Poor Market Book ratio 3 5 68 Poor So, the firm appears to be badly managed

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Calculate Jimenez's 2020 forecasted ratios, compare them with the industry average data, and comment briefly on Jimenez's projected strengths and weaknesses. Assume that there are

Calculate Jimenez's 2020 forecasted ratios, compare them with the industry average data, and comment briefly on Jimenez's projected strengths and weaknesses. Assume that there are no changes from the prior period to any of the operating balance sheet accounts. Do not round intermediate calculation. Round your answers to two decimal places.

I got the follow answers wrong and can't figure out for the life of me where I went wrong!

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Comprehensive Ratio Analysis

The Jimenez Corporation's forecasted 2020 financial statements follow, along with some industry average ratios.

Jimenez Corporation: Forecasted Balance Sheet as of December 31, 2020

Assets
Cash	$ 72,000
Accounts receivable	439,000
Inventories	894,000
Total current assets	$1,405,000
Fixed assets	431,000
Total assets	$1,836,000
Liabilities and Equity
Accounts payable	$ 332,000
Notes payable	104,000
Accruals	166,000
Total current liabilities	$ 602,000
Long-term debt	403,840
Common stock	575,450
Retained earnings	254,710
Total liabilities and equity	$1,836,000

Jimenez Corporation: Forecasted Income Statement for 2020
Sales	$4,290,000
Cost of goods sold	3,685,000
Selling, general, and administrative expenses	415,456
Earnings before interest and taxes (EBIT)	$ 189,544
Interest expense	40,000
Earnings before taxes (EBT)	$ 149,544
Taxes (25%)	37,386
Net income	$ 112,158
Jimenez Corporation: Per Share Data for 2020
EPS	$ 4.88
Cash dividends per share	$ 0.95
P/E ratio	5.0
Market price (average)	$24.38
Number of shares outstanding	23,000
Industry Ratios^a
Quick ratio	1.0
Current ratio	2.7
Inventory turnover^b	7.0
Days sales outstanding^c	32.0	days
Fixed assets turnover^b	13.0
Total assets turnover^b	2.6
Return on assets	9.1	%
Return on equity	18.2	%
Profit margin on sales	3.5	%
Debt-to-assets ratio	21.0	%
Liabilities-to-assets ratio	50.0	%
P/E ratio	6.0
Market/Book ratio	3.5
Notes:
^aIndustry average ratios have been stable for the past 4 years.
^bBased on year-end balance sheet figures.
^cCalculation is based on a 365-day year.

Ratios Firm Industry Comment Quick ratio 1.0 .84 Weak Current ratio 2.7 1.57 Weak Inventory turnover 7.0 4.11 Poor Days sales outstanding 32 days 37.35 days Poor Fixed assets turnover 13.0 9.95 Poor Total assets turnover 2.6 2.34 Poor Return on assets 9.1% 6.19 % Bad X X Return on equity 18.2% 13.69 % Bad Profit margin on sales 3.5% 2.65 % Bad Debt-to-assets ratio 21.0% 22 % High Liabilities-to-assets ratio 50.0% 54.79 % High P/E ratio 6.0 5 Poor Market/Book ratio 3.5 .68 Poor So, the firm appears to be badly managed