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Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash $ 122,700 Accounts payable $ 106,000 Accounts receivable 80,700

Given the financial statements for Jones Corporation and Smith Corporation:

JONES CORPORATION
Current Assets Liabilities
Cash $ 122,700 Accounts payable $ 106,000
Accounts receivable 80,700 Bonds payable (long term) 89,300
Inventory 52,600
Long-Term Assets Stockholders' Equity
Gross fixed assets $ 565,000 Common stock $ 150,000
Less: Accumulated depreciation 154,900 Paid-in capital 70,000
Net fixed assets*Note asterisk 410,100 Retained earnings 250,800
Total assets $ 666,100 Total liabilities and equity $ 666,100
Sales (on credit) $ 1,855,000
Cost of goods sold 718,000
Gross profit $ 1,137,000
Selling and administrative expenseNote dagger 351,000
Depreciation expense 50,500
Operating profit $ 735,500
Interest expense 10,600
Earnings before taxes $ 724,900
Tax expense 94,000
Net income $ 630,900

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

Selling and administrative expense Note daggerIncludes $13,200 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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