Given the financial statements for Jones Corporation and Smith Corporation JONES CORPORATION Current Assets Liabilities Cash Accounts receivable Inventory 3 21,100 Accounts payable S 131.000 82,800 1,600 Bonds payable (long term) 58.700 Long-Term Assets Stockholders' Equity Gross fixed assets S 571,000 Less: Accumulated depreciation Net foxed assets Common stock Paid-in capital S 150,000 70.000 143.400 415.800 Retained earnings S 577.200 Total assets Total liabilities and equity 577.200 Sales (on credit) Cost of goods sold Gross profit Selling and administrative expense Depreciation expense Operating profit Interest expense Earnings before taxes Tax expense Net income s 1,892,000 771.000 1,121,000 300.000 51.100 S 757.200 97.100 S 660.100 "Use net fixed assets in computing fixed asset tumover. fIncludes $11,900 in lease payments. SMITH CORPORATION Current Assets Liabilities Cash Marketable securities Accounts recevable Inventory S 38,100 Accounts payable S 76.600 218,000 10.300 73.100 75,800 Bonds payable (long term) Long-Term Assets Stockholders' Equity Gross fixed assets S 541.000 Common stock Paid-in capital 75,000 30.000 Less: Accumulated depreciation Net fxed assets 288.000 Retained earnings Total assets 485,300 Total liabilities and equity S 485.300 Use net fixed assets in computing fixed asset tumover SMITH CORPORATION Sales (on credit) Cost of goods sold Gross profit Selling and administrative expense Depreciation expense Operating profit Interest expense Earnings before taxes lax expense Net income S 1,190,000 072,000 S 518.000 320.000 5 145.400 30,000 57.500 Includes $11,900 in lease payments Includes $11,900 in lease payments a. Compute the following ratios. (Use a 360-day year. Do not round intermediate calculations. I answers to 2 decimal places.) Jones Corp. Smith Corp Profit margin Return on assets (investments) Return on equity Receivable turnover Average collection period Inventory turnover Fixed asset turnover Total asset turnover Current ratio Quick ratio Debt to total assets Times interest earned Fixed charge coverage time days time time time time time times days times times times times times time times time times