Compute the following ratios for 2013 and 2014 round all

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Reference no: EM13573389

Condensed balance sheet and income statement data for Jernigan Corporation are presented here.

JERNIGAN CORPORATION
Balance Sheets
December 31



2014


2013


2012

Cash

$ 31,521


$ 21,521


$ 19,521

Accounts receivable (net)

51,521


46,521


49,521

Other current assets

95,804


100,804


69,804

Investments

60,804


75,804


50,804

Plant and equipment (net)

500,000


370,000


358,000



$739,650


$614,650


$547,650

Current liabilities

$ 86,521


$ 81,521


$ 71,521

Long-term debt

150,804


90,804


55,804

Common stock, $10 par

325,804


315,804


305,804

Retained earnings

176,521


126,521


114,521



$739,650


$614,650


$547,650

JERNIGAN CORPORATION
Income Statements
For the Years Ended December 31



2014


2013

Sales revenue

$745,804


$605,804

Less: Sales returns and allowances

41,521


31,521

Net sales

704,283


574,283

Cost of goods sold

430,804


355,804

Gross profit

273,479


218,479

Operating expenses (including income taxes)

181,521


151,521

Net income

$ 91,958


$ 66,958

Additional information:

1.
The market price of Jernigan's common stock was $8.53, $10.90, and $7.09 for 2012, 2013, and 2014, respectively.
2.
You must compute dividends paid. All dividends were paid in cash.

(a) Compute the following ratios for 2013 and 2014. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.)



2014


2013

Profit margin.

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%

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%
Gross profit rate.

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%

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%
Asset turnover.

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times

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times
Earnings per share.

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Price-earnings ratio.

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times

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times
Payout ratio.

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%

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%
Debt to assets ratio.

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%

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%

Reference no: EM13573389

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