Given the financial statements for Jones Corporation and Smith Corporation:

JONES CORPORATION
Current Assets					Liabilities
Cash			$	26,100	Accounts payable	$	117,000
Accounts receivable				81,600	Bonds payable (long term)		89,400
Inventory				56,900
Long-Term Assets					Stockholders' Equity
Gross fixed assets	$	504,000			Common stock	$	150,000
Less: Accumulated depreciation		150,100			Paid-in capital		70,000
Net fixed assets*				353,900	Retained earnings		92,100
Total assets			$	518,500	Total liabilities and equity	$	518,500

Sales (on credit)	$	1,312,000
Cost of goods sold		765,000
Gross profit	$	547,000
Selling and administrative expense		291,000
Depreciation expense		57,100
Operating profit	$	198,900
Interest expense		12,400
Earnings before taxes	$	186,500
Tax expense		97,900
Net income	$	88,600

*Use net fixed assets in computing fixed asset turnover. Includes $14,800 in lease payments.

SMITH CORPORATION
Current Assets					Liabilities
Cash			$	38,200	Accounts payable	$	75,600
Marketable securities				7,600	Bonds payable (long term)		227,000
Accounts receivable				76,200
Inventory				82,800
Long-Term Assets					Stockholders' Equity
Gross fixed assets	$	507,000			Common stock	$	75,000
Less: Accumulated depreciation		252,200			Paid-in capital		30,000
Net fixed assets*				254,800	Retained earnings		52,000
Total assets			$	459,600	Total liabilities and equity	$	459,600

*Use net fixed assets in computing fixed asset turnover.

SMITH CORPORATION
Sales (on credit)	$	1,070,000
Cost of goods sold		632,000
Gross profit	$	438,000
Selling and administrative expense		228,000
Depreciation expense		50,400
Operating profit	$	159,600
Interest expense		25,700
Earnings before taxes	$	133,900
Tax expense		54,500
Net income	$	79,400

Includes $14,800 in lease payments. a. Compute the following ratios. (Use a 360-day year. Do not round intermediate calculations. Input your profit margin, return on assets, return on equity, and debt to total assets answers as a percent rounded to 2 decimal places. Round all other answers to 2 decimal places.)

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