hnt hlargn Total asset turnover Equity multiplier 6% 2.5 times 1.4 times Compare Gulf Controls with the average firm in the industry. What is the source of the major differences between the Gulf and the industry average ratios 0. Using the following data for Jackson Products Company, answer P arts a through g Jackson Products Company's Balance Sheet December 31, 2013 Cash Accounts receivable Inventory 240,000 Accounts payable 320,000 Notes payable (9%) Total current assets Net plant and equipment $ 380,000 420,000 1,040,000 Other current liabilities 50,000 Total current liabilities 850,000 800,000 $1,600,000 800,000 Long-term debt (10%) Total assets $2.400,000 Stockholders' equity750,000 Total liabilities and stockholders' equity $2,400000 Income Statement for the Year Ended December 31, 2013 Net sales (all on credit) Cost of sales Gross profit Selling, general, and administrative expenses Earnings before interest and taxes Interest $3,000,000 1,800,000 $1,200,000 860,000 $340,000 $37,800 80,000 Notes Long-term debt Total interest charges Earnings before taxes Federal income tax (40%) Earnings after taxes 117,800 S 222200 88,880 $ 133,320