Given the financial statements for Jones Corporation and Smith Corporation:

JONES CORPORATION

Current Assets Liabilities

Cash $ $29,400$ Accounts payable $ $103,000$

Accounts receivable $88,300$ Bonds payable $($long term$)80,100$

Inventory $54,500$ 

Long$-$Term Assets Stockholders' Equity

Gross fixed assets $ $508,000$  Common stock $ $150,000$

Less: Accumulated depreciation $156,800$  Paid$-$in capital $70,000$

Net fixed assets$*$Note asterisk $351,200$ Retained earnings $120,300$

Total assets $ $523,400$ Total liabilities and equity $ $523,400$

Sales $($on credit$)$ $ $1,845,000$

Cost of goods sold $757,000$

Gross profit $ $1,088,000$

Selling and administrative expense$†$Note dagger $325,000$

Depreciation expense $59,400$

Operating profit $ $703,600$

Interest expense $16,300$

Earnings before taxes $ $687,300$

Tax expense $95,600$

Net income $ $591,700$

$*$Net fixed assets Note asteriskUse net fixed assets in computing fixed asset turnover.

$†$Selling and administrative expense Note daggerIncludes $$15,500$ in lease payments.

SMITH CORPORATION

Current Assets Liabilities

Cash $ $40,700$ Accounts payable $ $84,400$

Marketable securities $15,800$ Bonds payable $($long term$)283,000$

Accounts receivable $75,900$ 

Inventory $75,400$ 

Long$-$Term Assets Stockholders' Equity

Gross fixed assets $ $592,000$  Common stock $ $75,000$

Less: Accumulated depreciation $251,100$  Paid$-$in capital $30,000$

Net fixed assets$*$Note asterisk $340,900$ Retained earnings $76,300$

Total assets $ $548,700$ Total liabilities and equity $ $548,700$

$*$Net fixed assets Note asteriskUse net fixed assets in computing fixed asset turnover.

SMITH CORPORATION

Sales $($on credit$)$ $ $1,150,000$

Cost of goods sold $659,000$

Gross profit $ $491,000$

Selling and administrative expense$†$Note dagger $285,000$

Depreciation expense $57,300$

Operating profit $ $148,700$

Interest expense $23,800$

Earnings before taxes $ $124,900$

Tax expense $53,600$

Net income $ $71,300$

$†$Selling and administrative expense Note daggerIncludes $$15,500$ in lease payments.

Compute the following ratios. Profit margin Return on assets Return on equity Receivable turnover Average collection period Inventory turnover Fixed asset turnover Total asset turnover Current ratio