Your answer is partially correct. Try again Condensed balance sheet and income statement data for Jergan Corporation are presented here Jergan Corporation Balance Sheets December 31 2020 2019 2018 Cash 30,000 $16,700 $ 18,300 Accounts receivable (net) 50,500 44,800 48,000 63,900 Other current assets 89,500 94,100 55,600 Investments 69,300 45,600 Plant and equipment (net) 499,000 369,200 357,700 $724,600 $594,100 $533,500 Current liabilities $84,100 $80,200 $69,800 84,400 Long-term debt 144,200 50,500 310,000 305,000 Common stock, $10 par 384,000 Retained earnings 112,300 119,500 108,200 $724,600 $594,100 $533,500 Jergan Corporation Income Statement For the Years Ended December 31 2020 2019 Sales revenue $735,000 $605,000 Less: Sales returns and allowances 40,000 29,800 Net sales 695,000 575,200 Cost of goods sold 425,200 366,500 Gross profit 269,800 208,700 Operating expenses (including income taxes) 179,450 145,428 90,350 63,272 Net income Additional information: 1. The market price of Jergan's common stock was $7.00, $7.50, and $8.50 for 2018, 2019, and 2020, respectively 2. You must compute dividends paid. All dividends were paid in cash Compute the following ratios for 2019 and 2020. (Round Asset turnover and Earnings per shar 6.8 or 6.8%.) 2019 2020 (1) Profit margin (2) Gross profit rate 36.28% 38.82 (3) Asset turnover 1.05 times 1.02 times (4) Earnings per share 1.76 2.19 (5) Price-earnings ratio 3.68 times 4.83 times (6) Payout ratio (7) Debt to assets ratio Click if you would like to Show Work for this question: Open Show Work