Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities 122,900 Accounts payable Cash Accounts receivable 86,500 Bonds payable (long term) nventory 59,800 Long-Term Assets Stockholders' Equity Common stock 549,000 Gross fixed assets 151,000 Paid-in capital Less: Accumulated depreciation Net fixed assets 398,000 Retained earnings 667,200 Total liabilities and equity Total assets 1,727,000 Sales (on credit) Cost of goods sold 806,000 Gross profit 921,000 Selling and administrative expenset 305,000 56,100 Depreciation expense Operating profit 559,900 15,100 Interest expense Earnings before taxes 544,800 94,100 Tax expense 450,700 Net income *Use net fixed assets in computing fixed asset turnover. tlncludes $16,300 in lease payments. SMITH CORPORATION Current Assets Liabilities 36,900 Accounts payable Cash Marketable securities 11,300 Bonds payable (long term) Accounts receivable 74,400 75,500 nventory Stockholders' Equity Long-Term Assets Common stock Gross fixed assets 526,000 Paid-in capital 257,300 Less: Accumulated depreciation 268,700 Retained earnings Net fixed assets* 466,800 Total liabilities and equity Total assets 137,000 85,100 150,000 70,000 225,100 667,200 80,500 240,000 75,000 30,000 41,300 466,800