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. |
|
|
% |
|
|
% |
| Gross profit rate. |
|
|
% |
|
|
% |
| Asset turnover. |
|
|
times |
|
|
times |
| Earnings per share. |
|
$
|
|
|
$
|
|
| Price-earnings ratio. |
|
|
times |
|
|
times |
| Payout ratio. |
|
|
% |
|
|
% |
| Debt to assets ratio. |
|
|
% |
|
|
% |