How do we compute the ratios to get the values needed to get the items computed properly?

P13-3A Perform ratio analysis, and discuss change in financial position and operating results Condensed balance sheet and income statement data for Jernigan Corporation are presented here. Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained Earnings JERNIGAN CORPORATION Balance Sheet December 31 2014 $30,000 50,000 90,000 55,000 500,000 $725,000 $85,000 145,000 320,000 175,000 $725,000 2013 $20,000 45,000 95,000 70,000 370,000 $600,000 2012 $18,000 48,000 64,000 45,000 358,000 $533,000 $80,000 85,000 310,000 125,000 $600,000 $70,000 50,000 300,000 113,000 $533,000 2014 $740,000 40,000 700,000 425,000 275,000 180,000 95,000 2013 $600,000 30,000 570,000 350,000 220,000 150,000 70,000 JERNIGAN CORPORATION Income Statement For the Year Ended December 31 Sales revenue Less: Sales return and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) Net income Additional information: 1. The market price of Jernigan's common stock was $7.00, $7.50, and $8.50 for 2012, 2013, and 2014, respectively. 2. You must compute dividends paid. All dividends were paid in cash. Instructions (a) Compute the following ratios for 2013 and 2014. (1) Profit margin. 5. Price-earnings ratio. (2) Gross profit rate. 6. Payout ratio. (3) Asset turnover. 7. Debt to assets ratio. (4) Earnings per share. (b) Based on the ratios calculated, discuss briefly the improvement or lack thereof in the financial position and operating results from 2013 to 2014 of Jernigan Corporation. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" . (a)(1) Profit margin Net income Net sales Profit margin 2014 Value Value ? 2013 Value Value ? 2014 Value Value ? 2013 Value Value ? 2014 Value Value 2013 (a)(2) Gross profit rate Gross profit Net sales Gross profit rate (a)(3) Asset turnover Total assets, 2014 Total assets, 2013 Total assets, 2012 Average total assets Net sales Average total assets Asset turnover ? Value Value ? 2014 Value Value ? 2013 Value Value ? 2014 Value Value 2013 (a)(4) Earnings per share Common shares outstanding, 2014 Common shares outstanding, 2013 Common shares outstanding, 2012 Average common shares outstanding Net income - Pfd. Dividends Average common shares outstanding Earnings per share (a)(5) Price-earnings ratio ? Value Value ? 2014 Value Value ? 2013 Value Value ? 2014 Value Value ? 2013 Value Value ? Prior year's retained earnings Plus: current year net income Less: current year's retained earnings Cash dividends declared 2014 Value Value Value ? 2013 Value Value Value ? Cash dividends declared (common) Net income Payout ratio 2014 Value Value ? 2013 Value Value ? 2014 Value Value ? Value ? 2013 Value Value ? Value ? Stock price per share Earnings per share Price-earnings ratio (a)(6) Payout ratio (a)(7) Debt to assets ratio Current Liabilities Long-term debt Total liabilities Total assets Debt to assets ratio ented here. in cells with a "?"