I got it answered before too but it didn't include $7000 in lease payments

Kindly answer this asap I'll give you 5starrs and an upvote

2. Given the financial statements Smith Corporation shown here: You have completed the analysis for the Jones Corporation in the chapter 16 quiz. Now calculate all 13 ratios for the Smith Corporation in the cart below using the information provided. The ratios for Jones Corp are provided. Using this ratio analysis, answer questions a and b below your ratio chart. SMITH CORPORATION Current Assets Liabilities Accounts payable Cash S 35,000 $ 75,000 Marketable securities Bonds payable (long-term) 7,500 210,000 Accounts receivable 70,000 Inventory 75.000 Long-Term Assets Fixed assets. Stockholders' Equity Common stock $500,000 $ 75,000 Less: Accum. dep. (250,000) Paid-in capital 30.000 Net fixed assets Retained earnings 250,000 47,500 Total assets Total liab, and equity $437.500 $437.500 SMITH CORPORATION Sales (on credit) $1,000,000 Cost of goods sold 600.000 Gross profit 400,000 Selling and administrative expenset 224,000 Less: Depreciation expense 50.000 Operating profit 126,000 *Use net fixed assets in computing fixed asset turnover. Includes $7,000 in lease payments. Interest expense 21.000 Earnings before taxes 105.000 Tax expense 52.500 Net income $ 52.500 Solution: Calculate Smith Corp. ratios then answer questions Jones vs Smith Comparison Smith Corp. Jones Corp. 7.4% Profit margin Return on assets investments) 18.5% Return on equity 28.9% Receivable turnover Average collection period Inventory turnover 15.63x 23.04 days 25x Fixed asset turnover 3.57x Total asset turnover 2.5x 1.5x Current ratio Quick ratio 1.Ox Debt to total assets Times interest earned 36% 24.13x Fixed charge coverage 13.33x Hint: One way of analyzing the situation for each company is to compare the respective ratios for each. Examining those ratios which would be most important to a supplier or short-term lender and a stockholder. Your answers should be well developed and based on the ratios analysis using the rationale outlined in the text. (One sentence answers are not appropriate). a. To which one would you, as credit manager for a supplier, approve the extension of (short-term) trade credit? Why? Compute all ratios before answering. b. In which one would you buy stock? Why