ment Condensed balance sheet and income statement data for Jergan Corporation Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash Accounts receivable (net) Other current assets Investments Plant and equipment (net) $ 29,300 49,900 90,900 55,200 500,700 $726,000 $84,800 145,700 348,000 147,500 $726,000 $ 17,300 44,100 96,000 70,200 370,600 $598,200 $79,100 85,900 320,000 113,200 $598,200 $ 17,000 47,800 63,900 45,600 358,000 $532,300 $70,300 50,800 312,000 99,200 $532,300 Current liabilities Long-term debt Common stock, $10 par Retained earnings Jergan Corporation Income Statement For the Years Ended December 31 2020 2019 Sales revenue Less: Sales returns and allowances Net sales $743,000 40,000 703,000 427.400 $606,900 29,500 577,400 371.500 Cost of goods sold nent TLTTUU LUSL VI yuous suiu Gross profit Operating expenses (including income taxes) Net income 275,600 184,210 $ 91,390 205,900 148,160 $ 57,740 Additional information: 1. The market price of Jergan's common stock was $7.00, $7.50, and $ 2. You must compute dividends paid. All dividends were paid in cash. (a) Compute the following ratios for 2019 and 2020. (Round Asset turnov places, e.g. 18%. Round all other answers to 1 decimal place, e.g 2019 2020 (1) Profit margin 9.5% 12.3% (2) Gross profit rate 33.9% 37.1% (3) Asset turnover times times (4) Earnings per share $ $ (5) Price-earnings ratio times times (6) Payout ratio % % (7) Debt to assets ratio % % licy | 200 201