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Condensed balance sheet and income statement data for Jernigan Corporation are presented here. JERNIGAN CORPORATION Balance Sheets December 31 2014 2013 2012 Cash $31,542 $21,542
Condensed balance sheet and income statement data for Jernigan Corporation are presented here.
JERNIGAN CORPORATION Balance Sheets December 31 | |||
2014 | 2013 | 2012 | |
Cash | $31,542 | $21,542 | $19,542 |
Accounts receivable (net) | 51,542 | 46,542 | 49,542 |
Other current assets | 94,749 | 99,749 | 68,749 |
Investments | 59,749 | 74,749 | 49,749 |
Plant and equipment (net) | 500,000 | 370,000 | 358,000 |
$737,582 | $612,582 | $545,582 | |
Current liabilities | $86,542 | $81,542 | $71,542 |
Long-term debt | 149,749 | 89,749 | 54,749 |
Common stock, $10 par | 324,749 | 314,749 | 304,749 |
Retained earnings | 176,542 | 126,542 | 114,542 |
$737,582 | $612,582 | $545,582 |
JERNIGAN CORPORATION Income Statements For the Years Ended December 31 | ||
2014 | 2013 | |
Sales revenue | $744,749 | $604,749 |
Less: Sales returns and allowances | 41,542 | 31,542 |
Net sales | 703,207 | 573,207 |
Cost of goods sold | 429,749 | 354,749 |
Gross profit | 273,458 | 218,458 |
Operating expenses (including income taxes) | 181,542 | 151,542 |
Net income | $91,916 | $66,916 |
Additional information:
1. | The market price of Jernigans common stock was $6.91, $10.66, and $7.26for 2012, 2013, and 2014, respectively. |
2. | You must compute dividends paid. All dividends were paid in cash. |
(a)Compute the following ratios for 2013 and 2014.(Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)
2014 | 2013 | |||
Profit margin. | % | % | ||
Gross profit rate. | % | % | ||
Asset turnover. | times | times | ||
Earnings per share. | $ | $ | ||
Price-earnings ratio. | times | times | ||
Payout ratio. | % | % | ||
Debt to assets ratio. | % | % |
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