I have issues to do this exercise. Condensed balance sheet and


Question Description:

24.99

I have issues to do this exercise. Condensed balance sheet and income statement data for Jernigan Corporation are presented here. JERNIGAN CORPORATION Balance Sheets December 31 2014 2013 2012 Cash$ 31,542 $ 21,542 $ 19,542 Accounts receivable (net)51,542 46,542 49,542 Other current assets94,749 99,749 68,749 Investments59,749 74,749 49,749 Plant and equipment (net)500,000 370,000 358,000 $737,582 $612,582 $545,582 Current liabilities$ 86,542 $ 81,542 $ 71,542 Long-term debt149,749 89,749 54,749 Common stock, $10 par324,749 314,749 304,749 Retained earnings176,542 126,542 114,542 $737,582 $612,582 $545,582 JERNIGAN CORPORATION Income Statements For the Years Ended December 31 2014 2013 Sales revenue$744,749 $604,749 Less: Sales returns and allowances41,542 31,542 Net sales703,207 573,207 Cost of goods sold429,749 354,749 Gross profit273,458 218,458 Operating expenses (including income taxes)181,542 151,542 Net income$ 91,916 $ 66,916 Additional information: 1.The market price of Jernigan’s common stock was $6.91, $10.66, and $7.26 for 2012, 2013, and 2014, respectively. 2.You must compute dividends paid. All dividends were paid in cash. (a) Compute the following ratios for 2013 and 2014. (Round all answers to 2 decimal places, e.g. 1.83 or 12.61%.) 2014 2013 Profit margin. % % Gross profit rate. % % Asset turnover. times times Earnings per share.$ $ Price-earnings ratio. times times Payout ratio. % % Debt to assets ratio. % %

Answer

24.99