Condensed balance sheet and income statement data for Jergan Corporation are presented here. Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash Accounts receivable (net) Other current assets $ 29,000 49,000 89,000 54,000 499,000 $720,000 $ 17,000 47,000 63,000 44,000 357,000 $528,000 Investments $ 16,000 44,000 94,000 69,000 369,000 $592,000 $79,000 84,000 309,000 120,000 $592,000 Plant and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings $84,000 144,000 315,000 177,000 $720,000 $69,000 49,000 295,000 115,000 $528,000 Jergan Corporation Income Statement For the Years Ended December 31 2020 2019 Sales revenue Less: Sales returns and allowances Net sales $735,000 39,000 696,000 426,000 270,000 179,520 $605,000 29,000 576,000 365,000 211,000 Cost of goods sold Gross profit Operating expenses (including income taxes) 147,640 Net income $ 90,480 $ 63,360 Additional information: 1. The market price of Jergan's common stock was $7.00, $7.50, and $8.50 for 2018, 2019, and 2020, respectively. 2. You must compute dividends paid. All dividends were paid in cash. (a) Compute the following ratios for 2019 and 2020. (Round Asset turnover and Earnings per share to 2 decimal places, e.g. 1.65. Round payout ratio and debt to assets ratio to 0 decimal places, e.g. 18%. Round all other answers to 1 decimal place, e.g. 6.8 or 6.8%.) 2019 2020 (1) Profit margin 13 % 11 % (2) Gross profit rate 36.6% 38.8% (3) Asset turnover 1.03 times 1.06 times (4) Earnings per share 2.10 2.90 $ (5) Price-earnings ratio 3.6 times 2.9 times (6) Payout ratio 92% 37% (7) Debt to assets ratio 27% 31%