Condensed balance sheet and income statement data for Jernigan Corporation are p
ID: 2500232 • Letter: C
Question
Condensed balance sheet and income statement data for Jernigan Corporation are presented here.
JERNIGAN CORPORATION
Balance Sheets
December 31
2014
2013
2012
$ 31,442
$ 21,442
$ 19,442
51,442
46,442
49,442
92,003
97,003
66,003
57,003
72,003
47,003
500,000
370,000
358,000
$731,890
$606,890
$539,890
$ 86,442
$ 81,442
$ 71,442
147,003
87,003
52,003
322,003
312,003
302,003
176,442
126,442
114,442
$731,890
$606,890
$539,890
JERNIGAN CORPORATION
Income Statements
For the Years Ended December 31
2014
2013
$742,003
$602,003
41,442
31,442
700,561
570,561
427,003
352,003
273,558
218,558
181,442
151,442
$ 92,116
$ 67,116
Additional information:
(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
JERNIGAN CORPORATION
Balance Sheets
December 31
2014
2013
2012
Cash$ 31,442
$ 21,442
$ 19,442
Accounts receivable (net)51,442
46,442
49,442
Other current assets92,003
97,003
66,003
Investments57,003
72,003
47,003
Plant and equipment (net)500,000
370,000
358,000
$731,890
$606,890
$539,890
Current liabilities$ 86,442
$ 81,442
$ 71,442
Long-term debt147,003
87,003
52,003
Common stock, $10 par322,003
312,003
302,003
Retained earnings176,442
126,442
114,442
$731,890
$606,890
$539,890
Explanation / Answer
2014 2013 Profit margin. Net Income /Net sales 92116/700561 67116/570561 Profit Margin 13.15% 11.76% Gross Profit Ratio =grossprofit/sales 273558/700561 218558/570561 Gross profit Ratio 39.05% 38.31% Asset Turnover = Sales or Revenues / Total Assets 700561/731890 570561/606890 Asset Turnover 0.957 0.940 Earnings per share =net income/no of shares 92116/32200.3 67116/31200.3 Earnings per share 2.86 2.15 Price-earnings ratio. Market price/EPS 8.71/2.860 11.44/2.15 Price-earnings ratio 3.05 5.32 Payout ratio. Dividend Paid 126442+92116-176442 114442+67116-126442 Dividend Paid 42116 55116 Dividends per Share (DPS) 1.31 1.77 Payout Ratio = Dividends per Share (DPS) / Earnings per Share (EPS) 46% 82% Debt to assets ratio. Debt/Asset debt 86442+147003 81442+87003 Debt to assets ratio. Debt/Asset 233445 168445 Debt to assets ratio. Debt/Asset 233445/731890 168445/606890 Debt to assets ratio. Debt/Asset 31.90% 27.76%
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