The financial statements of Jona Corporation follow: (Click the icon to view the assets section of the balance sheet.) (Click the icon to view the liabilities and stockholders' equity sections of the balance sheet.) Calculate these profitability measures for 2018. Show each computation. a. Rate of return on sales. b. Asset turnover ratio. c. Rate of return on total assets. d. Leverage (equity multiplier) ratio. e. Rate of return on common stockholders' equity. f. Is Jona's profitability strong, medium, or weak? (Click the icon to view the income statement.) i Data Table - X a. Compute the rate of return on sales for 2018. (Enter currency amounts in millions as given in the question. Ignore interest expense in your analysis and enter"0" for any zero balances. Round your answer to Net income Preferred dividends ) Net sales = Rate of return on sales ( 816 )/ 170 % Data Table - X Data Table - X Jona Corporation Balance Sheet (Adpated) December 31, 2018 and 2017 Increase (Decrease) Amount Percentage 2018 2017 Jona Corporation Statements of Income (Adapted) Year Ended December 31, 2018 and 2017 Jona Corportion Balance Sheets (Adapted) December 31, 2018 and 2017 (Dollar amounts in millions) Liabilities and Stockholders' Equity Current liabilities: Accounts payable Income tax payable Short-term debt $ 980 $ 840 $ 140 (Dollar amounts in millions) 2018 2017 Increase (Decrease) Amount Percentage 16.7 % (32.4) (Dollar amounts in millions) 2018 2017 46 (22) Net revenues $ 9,350 8,160 $ 5,096 68 180 195 15 8.3 Cost of goods sold 4,750 69 74 (5) (6.8) 3,064 1,500 4,600 3,800 Assets Current assets: Cash and cash equivalents Short-term investments Receivables, net Other Total current liabilities $ 1,260 $ 970 $ 290 29.9 % 1,290 Gross profit General and administrative expenses Income from operations 1,162 128 11.0 120 42 78 185.7 Long-term debt 18.6 800 1,564 391 3,320 1,160 2,800 1,060 520 100 170 310 (140) (45.2) Other liabilities 9.4 170 Inventories 152 406.7 Interest expense, net Income before income taxes 30 364 122 (132) 5,770 5,022 748 14.9 1.173 630 232 Prepaid expenses and other assets (36.3) Total liabilities Stockholders' equity: Common stock Provision for income taxes 357 220 1,934 1,716 218 12.7 2 2 $ 816 $ 410 Net income Total current assets Property, plant, and equipment, net Intangible assets 3,170 4 0.1 3,174 1,070 Retained earnings (214) (12.7) 1,466 (200) 828 242 29.2 1,680 (230) 1,452 Accumulated other comprehensive (loss) 30 13.0 Print Done 860 Other assets 760 100 13.2 Total stockholders' equity 1,268 (184) (12.7) $ 7,038 $ 564 Total assets 6,474 $ 8.7 % $ 7,038 $ 6,474 $ 564 Total liabilities and stockholders' equity Choose from any list or enter any number in the input fields and then click Check Answer 8.7 %