23) The following income statement and balance sheets for Worlds of Fun are provided: Worlds of Fun Income Statement For the year-ended December 31, 2021 Sales revenue Cost of goods sold Gross profit Expenses Operating expenses Depreciation expense Loss on sale of land Interest expense Income tax expense Total expenses $2,200,000 1.500,000 700,000 350,000 70,000 5,000 25,000 60,000 510,000 Net income $190,000 Worlds of Fun Balance Sheet December 31 2020 Assets Current assets: 2021 $112,000 70,000 100,000 10,000 $120,000 90,000 120.000 10,000 Cash Accounts receivable Inventory Prepaid rent Long-term assets: 200,000 210,000 (42,000) $660,000 260,000 350,000 (70,000) $880.000 Land Equipment Accumulated depreciation Total assets Liabilities and Stockholders' Equity Current liabilities: Accounts payable Interest payable Income tax payable Long-term liabilities: Notes payable Stockholders' equity Common stock Retained earnings Total liabilities and equity $55,000 $75,000 8,000 7,000 12,000 15,000 400,000 300,000 200,000 202.000 $880.000 200,000 66,000 $660.000 Earnings per share for the year ended December 31, 2021, is $1.90. The closing stock price December 31,, 2021, is $30.40. on 7 Calculate the following profitability ratios for 2021 (round to one decimal place): 1. Gross profit ratio 2. Return on assets 3. Profit margin 4. Asset turnover 5. Return on equity 6. Price-earnings ratio