Perform ratio analysis and evaluate financial position and operating results Condensed balance sheet and income statement data for Jergan Corporation are presented here. JERGAN CORPORATION Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) Current liabilities Long-term debt Common stock, $10 par Retained earnings Sales revenue Balance Sheets December 31 2020 2019 2018 30,000 20,000 18,000 50,000 45,000 48,000 90,000 95,000 64,000 55,000 70,000 45,000 500,000 370,000 358,000 725,000 600,000 533,000 85,000 80,000 70,000 145,000 85,000 50,000 320,000 310,000 300,000 175,000 125,000 113,000 725,000 600,000 533,000 JERGAN CORPORATION Income Statements For the Years Ended December 31 Less: Sales returns and allowances Net sales Cost of goods sold Gross profit Operating expenses (including income taxes) 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. All dividends are paid in cash. Instructions 2020 $740,000 2019 $600,000 40,000 30,000 700,000 570,000 425,000 350,000 275,000 220,000 180,000 150,000 $95,000 $70,000 (a) Compute the following ratios for 2019 and 2020. (1) Profit margin. (2) Gross profit rate. (3) Asset turnover (4) Earnings per share (5) Price-carnings ratio. (6) Payout ratio. (7) Debt to assets ratio. (b) Based on the ratios calculated, discuss briefly the improvement or lack thereof in financial position and operating results from 2019 to 2020 of Jergan Corporation. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?", and any necessary titles and line items. 2020 2019 (a) Profit margin: Profit margin: Value Value ? (b) Gross profit rate: Asset turnover: Value Value Gross profit rate: Value Value Value Value Asset turnover: Value Value Value Value Earnings per share: Earnings per share: Value Value Value Value Price-earnings ratio: Price-earnings ratio: Value Value Value Value Payout ratio: Debt to assets ratio: Payout ratio: Value Value Value Value ? Debt to assets ratio: Value Value Value Value Based on the ratios calculated, discuss briefly the improvement or lack thereof in financial position and operating results from 2019 to 2020 of Landwehr Corporation