Given the financial statements for Jones Corporation and SmithCorporation: JONES CORPORATION Current Assets Liabilities Cash $21,100 Accounts payable $ 131,000 Accounts receivable 81,600 Bondspayable (long term) 82,800 Inventory 58,700 Long-Term AssetsStockholders' Equity Gross fixed assets $ 571,000 Common stock $150,000 Less: Accumulated depreciation 155,200 Paid-in capital70,000 Net fixed assets* 415,800 Retained earnings 143,400 Totalassets $ 577,200 Total liabilities and equity $ 577,200 Sales (oncredit) $ 1,892,000 Cost of goods sold 771,000 Gross profit $1,121,000 Selling and administrative expense† 300,000 Depreciationexpense 51,100 Operating profit $ 769,900 Interest expense 12,700Earnings before taxes $ 757,200 Tax expense 97,100 Net income $660,100 *Use net fixed assets in computing fixed asset turnover.†Includes $11,900 in lease payments. SMITH CORPORATION CurrentAssets Liabilities Cash $ 38,100 Accounts payable $ 76,600Marketable securities 10,300 Bonds payable (long term) 218,000Accounts receivable 73,100 Inventory 75,800 Long-Term AssetsStockholders' Equity Gross fixed assets $ 541,000 Common stock $75,000 Less: Accumulated depreciation 253,000 Paid-in capital30,000 Net fixed assets* 288,000 Retained earnings 85,700 Totalassets $ 485,300 Total liabilities and equity $ 485,300 *Use netfixed assets in computing fixed asset turnover. SMITH CORPORATIONSales (on credit) $ 1,190,000 Cost of goods sold 672,000 Grossprofit $ 518,000 Selling and administrative expense† 320,000Depreciation expense 52,600 Operating profit $ 145,400 Interestexpense 30,000 Earnings before taxes $ 115,400 Tax expense 57,900Net income $ 57,500 †Includes $11,900 in lease payments. a. Computethe following ratios. (Use a 360-day year. Do not roundintermediate calculations. Input your profit margin, return onassets, return on equity, and debt to total assets answers as apercent rounded to 2 decimal places. Round all other answers to 2decimal places.)