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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

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* 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 expense 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

*Use net fixed assets in computing fixed asset turnover. Includes $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* 288,000 Retained earnings 85,700
Total assets $ 485,300 Total liabilities and equity $ 485,300

*Use 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 expense 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

Includes $11,900 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.)

Johnes corp smith corp

Profit Margin(%)

Return on assets(investment)(%)

Return on equity(%)

Receivable turnover(times)

Average collection period(days)

inventory turnover(times)

fixed asset turnover (times)

total asset turnover (times)

current ratio(times)

quick ratio(times)

debt to total asset(%)

times interest earned(times)

fixed charge coverage(times)

Please show the fomular for how to geting the number. Than you :)

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