Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash...

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Given the financial statements for Jones Corporation and Smith Corporation: JONES CORPORATION Current Assets Liabilities Cash Accounts receivable Inventory $ 122,700 Accounts payable 80,700 52,600 s 106,000 89,300 Bonds payable (long term) Long-Term Assets Stockholders Equity 565,000 154,900 s 150,000 70,000 250,800 $ 666,100 Gross fixed assets Common stock Paid-in capital Less: Accumulated depreciation Net fixed assets 410.100 Retained earnings $ 666,100 Total assets Total liabilities and equity Sales (on credit) Cost of goods sold Gross proft Selling and administrative expense Depreciation expense Operating profit Interest expense Earnings before taxes Tax expense Net income s 855,000 718,000 S 1,137,000 351,000 50,500 735,500 10,600 24,900 94,000 S 630,900 Use net fixed assets in computing fixed asset turnover. tIncludes $13,200 in lease payments.

SMITH CORPORATION Current Assets Liabilities Cash Marketable securtet Accounts receivable Inventory $ 38,000 Accounts payable 75,300 234,000 16,100 Bonds payable (long term 79.200 76,400 Long-Term Assets Stockholders Equity Gross fixed assets 507,000 Less: Accumulated depreciation Net fixed assets* Common stock Paid-in capital $ 75,000 30,000 256,800 Retained earnings $466,500 Total assets Total Sabilties and equity S 466,500 Use net fixed assets in computing fixed asset turnover SMITH CORPORATION Sales (on creait Cost of goods sold Gross profit Selling and administraive expense Depreciation expense Operating profit Interest expense Earrings befcre taxes Tax expenso Net income $ 1,090 000 074 249.000 1400 23.600 55.300 $ 36,700 Includes $13.200 in lease payments a. Compute the following ratios. (Use a 360-day year. Do not round intermediate calculations. Input your answers as a percent rounded to 2 decimal places. Round all other answers to 2 decimal margin, return on assets, return on equity, and debt to total assets

includes $13.200 in lease payments following ratios. (Use a 360-day year. Do not round intermediate calculations. Input your profit margin, return on assets, return on equity, and debt to total answers as a percent rounded to 2 decimal places. Round all other answers to 2 decimal places. Jones Corp.S Smith Corp. Profit margin Retum on asses (investments) Retum on equity Receivable turnaver Average collection period Invertory sunmover Fixed asset tumover Total asset turnover Current raio Quick ratio Debt to total assets Times interest earned Fixed charge coverage times days days times times timas timas

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