Condensed balance sheet and income statement data for Jernigan Corporation are presented here. JERNIGAN CORPORATION Balance Sheets December 31 2014 2013 2012 Cash $ 31,390 $ 21,390 $ 19,390 Accounts receivable (net) 51,390 46,390 49,390 Other current assets 95,672 100,672 69,672 Investments 60,672 75,672 50,672 Plant and equipment (net) 500,000 370,000 358,000 $739,124 $614,124 $547,124 Current liabilities $ 86,390 $ 81,390 $ 71,390 Long-term debt 150,672 90,672 55,672 Common stock, $10 par 325,672 315,672 305,672 Retained earnings 176,390 126,390 114,390 $739,124 $614,124 $547,124 JERNIGAN CORPORATION Income Statements For the Years Ended December 31 2014 2013 Sales revenue $745,672 $605,672 Less: Sales returns and allowances 41,390 31,390 Net sales 704,282 574,282 Cost of goods sold 430,672 355,672 Gross profit 273,610 218,610 Operating expenses (including income taxes) 181,390 151,390 Net income $ 92,220 $ 67,220 Additional information: 1. The market price of Jernigan’s common stock was $7.24, $11.08, and $8.27 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. % %