what is the debt to equity ratio, total assest turnover, free cash flow, and dividend payout ratio for 2019 and 2020?
Provided Information The JTP Company, located in Jenkintown, PA, is a small manufacturer and distributor of custom machined components. Because of some successful new products marketed to tool and die manufacturers, the firm has seen steady revenue growth. Expecting sales growth to continue, the company expanded operations in 2020 through significant investments in property, plant, and equipment. However, the growth has been accompanied by a precipitous drop in the company's stock price. You are a financial consultant who has been retained to analyze the company's performance. Your investigative plan involves a series of in-depth interviews with management and doing some independent research on the industry. However, before starting, you want to focus your thinking to be sure you can ask the right questions. You begin by analyzing the firm's financials over the last three years, which are presented in the supplemental datasheet. As part of your discovery process, you learn that the company sold no property, plant, or equipment during the time periods presented. Also, the company did not repay any long-term debt in 2020. The account balance of the common stock account (part of equity) did not change. And finally, the company's normal credit terms extended to its customers are net 15 EXHIBITS: SUPPLEMENTAL DATA (for JTP Company) All values, except stock price, are in thousands ($000) Table 1 Balance Sheets 2018 2019 2020 Assets Cash Accounts receivable Inventory Other current assets Gross Property, Plant, & Equipment Accumulated Depreciation Total assets $414 $333 $362 78 93 119 398 424 446 79 196 121 2,146 2,441 4,148 -$1.299 $1.467 $1.646 $1,816 $2,020 $3,550 $242 Liabilities and equity Accounts payable Accruals & other current liabilities Long-term debt Total equity Total liabilities and equity $237 248 84 1.247 $1,816 302 73 1.403 $2,020 $286 466 1,329 1.469 $3,550 Table 2 Income Statements 2018 2019 2020 $3,796 2,425 $4,036 2,548 $4,308 2,786 Sales Cost of goods sold Operating expenses: Depreciation Selling & Administrative Expense Other Operating Expenses Operating Income Interest expense Pre-tax Profit Income Tax Expense Net Income 167 880 21 303 1 $302 83 $219 168 981 2 337 1 $336 83 $253 179 1,029 80 234 21 $213 54 $159 Table 3 Other Information 2018 2019 2020 $0 Dividends Paid Stock Issuance Stock price Avg. Shares outstanding Avg. Interest Rate on Long-term debt Effective Tax Rate $89 $97 $0 $39.27 $26.10 172 1.20% 1.40% 27.48% 24.70% $93 $0 $11.55 167 1.60% 25.35% 177