You are analyzing the performance of Jackson Corporation, a manufacturer of personal care products, for the most recent year. The following data are taken from the firm's latest annual report:

In 2019 , net sales amount to \(\$ 8,800,000\), net income is \(\$ 700,000\), and preferred stock dividends paid are \(\$ 70,000\).

Required

a. Calculate the following for 2019:

1. Return on sales 

2. Return on assets 

3. Return on common stockholders' equity 

4. Quick ratio 

5. Current ratio 

6. Debt-to-equity ratio

b. Trade association statistics and information provided by credit agencies reveal the following data on industry norms:

Compare Jackson Corporation's performance with industry performance.

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Quick assets... Inventory and prepaid expenses Other assets.. Total assets Current liabilities.. 10% bonds payable. 7% preferred stock.... Common stock, $5 par value Retained earnings. Total liabilities and stockholders' equity. Dec. 31, 2019 $ 385,000 975,000 4,165,000 $5,525,000 $ 600,000 1,300,000 900,000 1,925,000 800,000 $5,525,000 Dec. 31, 2018 $ 350,000 820,000 3,700,000 $4,870,000 $ 500,000 1,300,000 900,000 1,800,000 370,000 $4,870,000