JACKSON CORPORATION Income Statement For the Year Ending December 31, 20X1 Sales (on credit) Cost of goods sold Gross profit Selling and administrative expenses Operating profit (EBIT) Interest expense Earnings before taxes (EBT) Taxes Earnings after taxes (EAT) $ 2,076,000 1,326,000 $ 750,000 490,000* $ 260,000 31,800 $ 228,200 84,400 $ 143,800 *Includes $36,400 in lease payments. Using the above financial statements for the Jackson Corporation, calculate the following ratios. a. Profitability ratios. Note: Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places. Profit margin Return on assets (investment) Return on equity Profitability Ratios % % % b. Assets utilization ratios. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Receivable turnover Average collection period Inventory turnover Fixed asset turnover Total asset turnover Assets Utilization Ratios times days times times times c. Liquidity ratios. Note: Do not round intermediate calculations. Round your answers to 2 decimal places. Current ratio Quick ratio Liquidity Ratios times times d. Debt utilization ratios. Note: Do not round intermediate calculations. Input your debt to total assets answer as a percent rounded to 2 decimal places. Round your other answers to 2 decimal places. Debt to total assets Times interest earned Fixed charge coverage Debt Utilization Ratios % times times Using the financial statements for the Jackson Corporation, calculate the 13 basic ratios found in the chapter. Jackson Corporation Balance Sheet December 31, 20x1 Assets Current assets: Cash Marketable securities Accounts receivable (net) Inventory Total current assets Investments Plant and equipment Less: Accumulated depreciation Net plant and equipment Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Notes payable Accrued taxes Total current liabilities Long-term liabilities: Bonds payable Total liabilities Stockholders' equity Preferred stock, $ 50 par value Common stock, $ 1 par value Capital paid in excess of par Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $ 689,000 256,000 $ 57,100 26,100 184,000 242,000 $ 509,200 64,500 433,000 $ 1,006,700 $ 92,700 76,500 17,000 $ 186,200 151,000 $ 337,200 $ 100,000 80,000 190,000 299,500 $ 669,500 $ 1,006,700