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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 $ 21,100 Accounts payable $ 131,000
Accounts receivable 81,600 Bonds payable (long term)82,800
Inventory 58,700
Long-Term Assets Stockholders' Equity
Gross fixed assets $ 571,000 Common stock $ 150,000
Less: Accumulated depreciation 155,200 Paid-in capital 70,000
Net fixed assets*Note asterisk 415,800 Retained earnings 143,400
Total assets $ 577,200 Total liabilities and equity $ 577,200
Sales (on credit) $ 1,892,000
Cost of goods sold 771,000
Gross profit $ 1,121,000
Selling and administrative expenseNote dagger 300,000
Depreciation expense 51,100
Operating profit $ 769,900
Interest expense 12,700
Earnings before taxes $ 757,200
Tax expense 97,100
Net income $ 660,100
*Net fixed assets Note asteriskUse net fixed assets in computing fixed asset turnover.
Selling and administrative expense Note daggerIncludes $11,900 in lease payments.
SMITH CORPORATION
Current Assets Liabilities
Cash $ 38,100 Accounts payable $ 76,600
Marketable securities 10,300 Bonds payable (long term)218,000
Accounts receivable 73,100
Inventory 75,800
Long-Term Assets Stockholders' Equity
Gross fixed assets $ 541,000 Common stock $ 75,000
Less: Accumulated depreciation 253,000 Paid-in capital 30,000
Net fixed assets*Note asterisk 288,000 Retained earnings 85,700
Total assets $ 485,300 Total liabilities and equity $ 485,300
*Net fixed assets Note asteriskUse net fixed assets in computing fixed asset turnover.
SMITH CORPORATION
Sales (on credit) $ 1,190,000
Cost of goods sold 672,000
Gross profit $ 518,000
Selling and administrative expenseNote dagger 320,000
Depreciation expense 52,600
Operating profit $ 145,400
Interest expense 30,000
Earnings before taxes $ 115,400
Tax expense 57,900
Net income $ 57,500
Selling and administrative expense Note daggerIncludes $11,900 in lease payments.
Compute the following ratios.
Note: 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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