Given the financial statements for Jones Corporation and Smith Corporation $ 166,000 82, 100 Current Assets Cash Accounts receivable Inventory Long-Term Assets Gross fixed assets Less: Accumulated depreciation Net fixed assets Total assets GONES CORPORATION Liabilities $ 29,7ee Accounts payable 88. See Bonds payable long term 52ee Stockholders Equity $ 542,000 Common stock 154,700 Paid in capital 3873ee Retained earnings $ 556,800 Total abilities and equity $ 150,000 70,000 88,700 $ 556,880 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 $ 1,914,000 771,00 S1457000 325 000 59, 602 5758100 9,20 S 749.2001 182.ee $ 646,900 "Use net fixed assets in computing fixed asset turnover includes $7.900 in lease payments *Use net fixed assets in computing fixed asset turnover includes $7.900 in lease payments $ 76,500 225,898 Current Assets Cash Marketable securities Accounts receivable Inventory Long-Term Assets Gross fixed assets Less: Accumulated depreciation Net fixed assets Total assets SMITH CORPORATION Liabilities $ 39,800 Accounts payable 12,200 Bonds payable (long term) 74,600 77,700 Stockholders' Equity $ 509,000 Common stock 252,600 Paid in capital 256,400 Retained earnings $ 460, 700 Total liabilities and equity $ 75,000 30,000 54,200 $ 460, 700 "Use net fixed assets in computing fixed asset turnover. SMITH CORPORATION 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 $ 1,150,000 687,000 $ 463,000 281,800 59,200 $ 122,888 27,180 95,780 54,200 $ 41,500 includes $7.900 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.) Jones Corp. % Smith Corp Profit margin % %% % % 96 times times days times days umes Return on assets (investments) Return on equity Receivable tumover Average collection period Inventory tumover Fixed asset turnover Total asset turnover Current ratio Quick ratio Debt to total assets Times interest eamed Fixed charge coverage times limes times times times times times times % % times times times times Given the financial statements for Jones Corporation and Smith Corporation $ 166,000 82, 100 Current Assets Cash Accounts receivable Inventory Long-Term Assets Gross fixed assets Less: Accumulated depreciation Net fixed assets Total assets GONES CORPORATION Liabilities $ 29,7ee Accounts payable 88. See Bonds payable long term 52ee Stockholders Equity $ 542,000 Common stock 154,700 Paid in capital 3873ee Retained earnings $ 556,800 Total abilities and equity $ 150,000 70,000 88,700 $ 556,880 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 $ 1,914,000 771,00 S1457000 325 000 59, 602 5758100 9,20 S 749.2001 182.ee $ 646,900 "Use net fixed assets in computing fixed asset turnover includes $7.900 in lease payments *Use net fixed assets in computing fixed asset turnover includes $7.900 in lease payments $ 76,500 225,898 Current Assets Cash Marketable securities Accounts receivable Inventory Long-Term Assets Gross fixed assets Less: Accumulated depreciation Net fixed assets Total assets SMITH CORPORATION Liabilities $ 39,800 Accounts payable 12,200 Bonds payable (long term) 74,600 77,700 Stockholders' Equity $ 509,000 Common stock 252,600 Paid in capital 256,400 Retained earnings $ 460, 700 Total liabilities and equity $ 75,000 30,000 54,200 $ 460, 700 "Use net fixed assets in computing fixed asset turnover. SMITH CORPORATION 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 $ 1,150,000 687,000 $ 463,000 281,800 59,200 $ 122,888 27,180 95,780 54,200 $ 41,500 includes $7.900 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.) Jones Corp. % Smith Corp Profit margin % %% % % 96 times times days times days umes Return on assets (investments) Return on equity Receivable tumover Average collection period Inventory tumover Fixed asset turnover Total asset turnover Current ratio Quick ratio Debt to total assets Times interest eamed Fixed charge coverage times limes times times times times times times % % times times times times