2018 2017 Income Statement Information Sales revenue Cost of goods sold Net income $ 14820,000 $ 9,400,000 6,900,000 348,000 9,544,080 418,000 Balance Sheet Information Current assets Long-term assets $ 1,700,000 $ 1,600,000 2,000,000 2,300,000 Total assets $ 4,000,000 3,600,000 Current liabilities Long-term liabilities Common stock Retained earnings $ 1,300,000 S 1,000,000 1,400,000 900,000 300,000 1,400,000 900,000 400,000 Total liabilities and stockholders' equity S 4,000,000 3,600,000 Required: 1. Calculate the following profitability ratios for 2018: (Round your answers to 1 decimal place.) Profitability Ratios a Gross profit ratio b Return on assets C. Profit margin d. Asset turnover e. Return on equity times 2. Determine the amount of dividends paid to shareholders in 2018 O Type here to search