Condensed balance sheet and income statement data for Jergan Corporation are presented here.

Your answer is partially correct. Try again. Condensed balance sheet and income statement data for Jergan Corporation are presented here. 2018 Jergan Corporation Balance Sheets December 31 2020 2019 Cash $ 30,000 $ 16,800 Accounts receivable (net) 50,100 44,600 Other current assets 89,200 95,900 Investments 55,800 69,500 Plant and equipment (net) 500,600 369,200 $725,700 $596,000 Current liabilities $85,000 $79,800 Long-term debt 144,400 84,100 Common stock, $10 par 357,000 314,000 Retained earnings 139,300 118,100 $725,700 $596,000 $ 17,300 47,000 64,300 44,400 359,000 $532,000 $71,000 50,500 312,000 98,500 $532,000 Jergan Corporation Income Statement For the Years Ended December 31 2020 Sales revenue $737,500 Less: Sales returns and allowances 40,300 Net sales 697,200 Cost of goods sold 425,100 Gross profit 272,100 Operating expenses (including income taxes) 188,436 Net income $ 83,664 2019 $605,900 30,800 575,100 368,500 206,600 149,090 $ 57,510 Compute the f i rst for 2019 (1) Profit margin