Perform ratio analysis, and discuss changes in financial position and operating results. FIS.3A (LO 3) Writing Condensed balance sheet and income statement data for Jergan Corporation are presented here. 000,012 002 00.0 000.02 Jergan Corporation Excel Balance Sheets December 31 2018 2020 2019 00,00 $ 20,000 $ 18,000 48,000 Cash $ 30,000 Accounts receivable (net) 45,000 50,000 90,000 Other current assets 95,000 70,000 64,000 Investments 45,000 55,000 500,000 Plant and equipment (net) 358,000 370,000 $725,000 $600,000 $533,000 $ 85,000 00145,000 320,000 $ 80,000 $ 70,000 Current liabilities Long-term debt. Common stock, $10 par Retained earnings 85,000 50,000 310,000 300,000 125.000 175,000 113,000 000 00$725,000 $600,000 $533,000 000 P Jergan Corporation Income Statements For the Years Ended December 31 2020 2019 $740,000 $600,000 Sales revenue 40,000 Less: Sales returns and allowances 30,000 ONY 700,000 570,000 350,000 Net sales 425,000 Cost of goods sold 275,000 Gross profit Operating expenses (including income taxes) 220,000 180,000 150,000 $ 95,000 $ 70,000 Net income Additional information: 1. The market price of Jergan's common stock was $7.00, $7.50, and $8.50 for 2018, 2019, and 2020, respectively 2. You must compute dividends paid. All dividends were paid in cash. Instructions totol biorbo a. Compute the following ratios for 2019 and 2020. 1. Profit margin. 2. Gross profit rate. 5. Price-earnings ratio. 6. Payout ratio. 7. Debt to assets ratio. 3. Asset turnover. 4. Earnings per share. o1 b. Based on the ratios calculated, discuss briefly the improvement or lack thereof in the financial position and operating results from 2019 to 2020 of Jergan Corporation