Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash $ 127,600 Accounts payable $ 119,000 Accounts receivable 87,100 Bonds payable (long term) 80,100 Inventory 54,300 Long-Term Assets Stockholders' Equity Gross fixed assets $ 594,000 Common stock $ 150,000 Less: Accumulated depreciation 155,700 Paid-in capital 70,000 Net fixed assets* 438,300 Retained earnings 288,200 Total assets $ 707,300 Total liabilities and equity $ 707,300 Sales (on credit) $ 1,835,000 Cost of goods sold 829,000 Gross profit $ 1,006,000 Selling and administrative expense 293,000 Depreciation expense 59,600 Operating profit $ 653,400 Interest expense 10,000 Earnings before taxes $ 643,400 Tax expense 95,900 Net income $ 547,500 *Use net fixed assets in computing fixed asset turnover. Includes $16,100 in lease payments. SMITH CORPORATION Current Assets Liabilities Cash $ 37,300 Accounts payable $ 76,500 Marketable securities 16,100 Bonds payable (long term) 237,000 Accounts receivable 74,700 Inventory 83,100 Long-Term Assets Stockholders' Equity Gross fixed assets $ 532,000 Common stock $ 75,000 Less: Accumulated depreciation 257,000 Paid-in capital 30,000 Net fixed assets* 275,000 Retained earnings 67,700 Total assets $ 486,200 Total liabilities and equity $ 486,200 *Use net fixed assets in computing fixed asset turnover. SMITH CORPORATION Sales (on credit) $ 1,090,000 Cost of goods sold 649,000 Gross profit $ 441,000 Selling and administrative expense 246,000 Depreciation expense 58,100 Operating profit $ 136,900 Interest expense 24,400 Earnings before taxes $ 112,500 Tax expense 47,000 Net income $ 65,500 Includes $16,100 in lease payments. a. Compute the following ratios. (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.)