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Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash $ 2 1 , 1 0 0 Accounts payable
Given the financial statements for Jones Corporation and Smith Corporation:
JONES CORPORATION
Current Assets Liabilities
Cash $ Accounts payable $
Accounts receivable Bonds payable long term
Inventory
LongTerm Assets Stockholders' Equity
Gross fixed assets $ Common stock $
Less: Accumulated depreciation Paidin capital
Net fixed assetsNote asterisk Retained earnings
Total assets $ Total liabilities and equity $
Sales on credit $
Cost of goods sold
Gross profit $
Selling and administrative expenseNote dagger
Depreciation expense
Operating profit $
Interest expense
Earnings before taxes $
Tax expense
Net income $
Net fixed assets Note asteriskUse net fixed assets in computing fixed asset turnover.
Selling and administrative expense Note daggerIncludes $ in lease payments.
SMITH CORPORATION
Current Assets Liabilities
Cash $ Accounts payable $
Marketable securities Bonds payable long term
Accounts receivable
Inventory
LongTerm Assets Stockholders' Equity
Gross fixed assets $ Common stock $
Less: Accumulated depreciation Paidin capital
Net fixed assetsNote asterisk Retained earnings
Total assets $ Total liabilities and equity $
Net fixed assets Note asteriskUse net fixed assets in computing fixed asset turnover.
SMITH CORPORATION
Sales on credit $
Cost of goods sold
Gross profit $
Selling and administrative expenseNote dagger
Depreciation expense
Operating profit $
Interest expense
Earnings before taxes $
Tax expense
Net income $
Selling and administrative expense Note daggerIncludes $ in lease payments.
Compute the following ratios.
Note: Use a 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 decimal places. Round all other answers to decimal places.
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